Eres : Digital Library : Works

Paper eres2009_141:
Property Arbitrage Potential Between the UK and USA

id eres2009_141
authors Lim, Lay Cheng Jasmine; Grissom, Terry; DeLisle, James R.
year 2009
title Property Arbitrage Potential Between the UK and USA
source 16th Annual European Real Estate Society Conference in Stockholm, Sweden
summary Practitioners and forecasters are suggesting that the economic turnaround in the UK will lag the market rebound in the USA. This suggests arbitrage opportunities between the two markets. This arbitrage potential is further highlighted based on the literature by Hendershott and MacGregor (2005a, 2005b), which suggest that the behavioural of UK investor is rational in comparison to the US investor which is irrational. The arbitrage implications are further amplified by contradictory findings of Chen, Hudson-Wilson and Nordby (2004) of rational US investment behaviour. This study investigates the pricing of property asset in the US and UK with the potential of arbitrage effect between the markets. The findings are then used to specify the differences in lags as a signal of sequential market changes.
keywords Arbitrage pricing, investment behaviour, UK, US
series ERES:conference
email lc.lim@ulster.ac.uk, tv.grissom@ulster.ac.uk
content file.ppt (683,520 bytes)
discussion No discussions. Post discussion ...
ratings Ratings: 3
session Investment and Finance
last changed 2009/09/16 16:22
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