IS CORPORATE REAL ESTATE PRICED IN THE STOCK MARKET?
||Liow, Kim Hiang
||IS CORPORATE REAL ESTATE PRICED IN THE STOCK MARKET?
||7th European Real Estate Society Conference (14-16 June 2000) Bordeaux, France
||Property is a significant asset in the balance sheets of some Singapore industrial /commerce firms and hotel corporations. In this research, we take on the task to examine the relationship between real estate and stock market valuation of these business firms from an asset pricing perspective. Specifically, the real estate sensitivity of ""property-intensive"" non-real estate stocks is investigated in a three-index (market, sector and property) APT stock return model and further recast as a multivariate nonlinear regression model with across-equation restrictions.
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||B4 _ Corporate Real Estate
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