Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Business
A Multi-Factor Analysis Of Areit Returns, Jaime L.P. Yong
A Multi-Factor Analysis Of Areit Returns, Jaime L.P. Yong
Research outputs pre 2011
Since 1990, the Australian Real Estate Investment Trust (AREIT) sector has experienced substantial growth and popularity. While the AREIT sector had benefit from the increased flow of funds from institutional investors during the 1997 Asian financial crisis, the recent impact of the 2008 global financial crisis has been a negative one. In this paper, we examine the sensitivities of annualised AREIT returns against a set of seven firm-specific variables and four market-wide risk variables. Balanced and unbalanced panel regressions are conducted on three sub-periods during 1990 – 2008 corresponding to the major phases in evolution of the AREIT sector. Our …