Perception versus reality: The portfolio allocations of UK property companies (Record no. 104920)

MARC details
000 -LEADER
fixed length control field 02421cam a2200169 4500
001 - CONTROL NUMBER
control field ##L131951
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 051219n2000 000 0 eng u
035 ## - SYSTEM CONTROL NUMBER
System control number (Sirsi) u131951
041 0# - LANGUAGE CODE
Language code of text/sound track or separate title eng
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name Ali, Hishamuddin Mohd
245 00 - TITLE STATEMENT
Title Perception versus reality: The portfolio allocations of UK property companies
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Place of publication, distribution, etc. London
Name of publisher, distributor, etc. RICS
Date of publication, distribution, etc. 2000
520 ## - SUMMARY, ETC.
Summary, etc. The property portfolio allocation of property companies could be determined through a risk and return analysis of each sector considering an acceptable level of risk. The reliability of a risk and return analysis seems to depend on the adequacy of the time series data that relate to property performance measurement. Furthermore, these data tend to be complex to interpret and lack uniformity in deriving the best asset allocation of property portfolio. This study investigates the asset allocation of public listed property companies (PLPC) in the U.K. A constrained multiple regression model is applied, which was developed by Sharpe (1988, 1992) to estimate a statistical relationship between the time series of the property companies' returns and a set of time series indexes representing portfolio investment strategies. The asset mix of the portfolio emphasises commercial property as this contributes much of the property investment activity in the U.K. Returns from selected property companies are used to estimate the style exposures of three commercial property types (retail, office and industry). These style exposures are then compared with the actual portfolio allocation of the property companies along with their perceived portfolio strategy. Perceptions of the portfolio strategy of each PLPC are obtained from the company's annual report. Three categories of portfolio strategy are considered, namely: Growth, Balanced and Income strategy. Although the commercial property portfolio has less ability to explain the return of property companies, the results implicitly explain the influence of the portfolio strategy to the portfolio allocation style of property companies. Nevertheless, it is necessary to consider other portfolio allocation determinants, such as gearing, the features of the property portfolio and the property market cycle. The current stage of this research is concerned with the validation of the results
520 ## - SUMMARY, ETC.
Summary, etc. This item is no longer available.
690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN)
Topical term or geographic name as entry element PROPERTY-PROPERTY MARKET
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Suppress in OPAC 0
Holdings
Withdrawn status Lost status Source of classification or shelving scheme Damaged status Not for loan Home library Current library Shelving location Date acquired Total Checkouts Barcode Date last seen Copy number Price effective from Koha item type
    Dewey Decimal Classification     Virtual Virtual Online 19/12/2005   131951-2001 06/08/2019 1 06/08/2019 Book