Real Estate Market Reaction to Public Listings and Acquisition News of Malaysian REITs

Tien Foo Sing, K. Ho and Mei Mak

Journal of Real Estate Portfolio Management, 2002, vol. 8, issue 3, 209-227

Abstract: Executive Summary. This study examines the market reactions of Malaysia's real estate investments trusts (REITs) and property stocks to corporate restructuring activities. Tests of price behavior of fifty-eight listed property stocks and three property trusts in Malaysia towards the new listing of Mayban Property Trust Fund One in 1997 show that REIT and property stock prices react significantly with a negative abnormal return of 2.3% and 4.9% respectively during the [−10, 0] event interval. In the tests of the acquisition announcement, the results show a significantly negative 1.9% price adjustment during the [−1, 0] event interval in the REIT market, but no significant excess returns in the listed property stock market around the event interval.

Date: 2002
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10835547.2002.12089668 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:repmxx:v:8:y:2002:i:3:p:209-227

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/repm20

DOI: 10.1080/10835547.2002.12089668

Access Statistics for this article

Journal of Real Estate Portfolio Management is currently edited by Peng Liu and Vivek Sah

More articles in Journal of Real Estate Portfolio Management from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().