000			01641cam a2200265 4500
001			ABS68308
008			041013n2004 000 0 eng u
035			_a(Sirsi) u127689
100			_aOoi, T.
245			_aDoes corporate real estate create wealth for shareholders
260			_c2004
490			_aJournal of Property Investment and Finance _v22(5) 2004, 386-400(15)
520			_aExamines the influence of Corporate Real Estate (CRE) on shareholder value using two value-based measures: Economic Value Added (EVA) and Market Value Added (MVA). Finds that CRE has impacted negatively on non-real estate firms' EVA and MVA in the period 1997-2001. This happens for the non-real estate corporations from different industries. Further, the higher the real estate asset intensity, the greater the negative impact on the firms' EVA and MVA. The results have important implications for the traditional notion that there is a competitive advantage to owning CRE by diversified conglomerates. Specifically, more studies are needed to explore and compare the main reasons and motivations as to why Asian non-real estate firms are still more involved with real estate activities than their counterparts in Europe and USA even though ownership of CRE appears to destroy shareholders' wealth. References. [Taken from journal abstract].
590			_aABS
590			_aABS
650			_aCORPORATE REAL ESTATE
650			_aVALUE-ADDED
650			_aASSET MANAGEMENT
650			_aBUSINESS MANAGEMENT _96226
650			_aSHAREHOLDERS
650			_aASIA
690			_aCOMMERCIAL PROPERTY _96227
700			_aLiow, K.
942			_n0
999			_c118151 _d118151