Factors Influencing the Performance of Hong Kong Property Companies

Graeme Newell, K.W. Chau and Siu Kei Wong

ERES from European Real Estate Society (ERES)

Abstract: Hong Kong property companies make a significant contribution to the Hong Kong stockmarket and general economy. A key issue is how much of Hong Kong property company performance is attributable to stockmarket performance and how much is attributable to direct property performance. Using a variance decomposition procedure, the proportion of Hong Kong property company volatility that is attributable to stock, bond and property factors over 1984-2004 is assessed. The dynamics of this Hong Kong property company performance is also assessed; particularly in relation to key economic and political factors.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2005-01-01
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