Information, uncertainty, and behavioral effects: Evidence from abnormal returns around real estate investment trust earnings announcements

Gyamfi-Yeboah, Frank; Ling, David C.; Naranjo, Andy

doi:10.1016/j.jimonfin.2012.05.013

Cited by 12 publications

(4 citation statements)

References 65 publications

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“…Figure 2 depicts the performance of the GTIS "properties + property," as well as the finance-related term "earnings + earning," in comparison to a buy-andhold strategy for the MSCI US REIT Index. The search term "earnings + earning" constitutes the best finance-related term and supports the findings of Gyamfi-Yeboah et al (2012) who state that the earnings announcements have a significant impact on REIT returns.…”

Section: Resultssupporting

confidence: 79%

Outperforming the benchmark: online information demand and REIT market performance

Rochdi

Dietzel

2015

Journal of Property Investment &Amp; Finance

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Purpose – The purpose of this paper is to investigate whether there is a relationship between asset-specific online search interest and movements in the US REIT market. Design/methodology/approach – The authors collect search volume (SV) data from “Google Trends” for a set of keywords representing the information demand of real estate (equity) investors. On this basis, the authors test hypothetical investment strategies based on changes in internet SV, to anticipate REIT market movements. Findings – The results reveal that people’s information demand can indeed serve as a successful predictor for the US REIT market. Among other findings, evidence is provided that there is a significant relationship between asset-specific keywords and the US REIT market. Specifically, investment strategies based on weekly changes in Google SV would have outperformed a buy-and-hold strategy (0.1 percent p.a.) for the Morgan Stanley Capital International US REIT Index by a remarkable 15.4 percent p.a. between 2006 and 2013. Furthermore, the authors find that real-estate-related terms are more suitable than rather general, finance-related terms for predicting REIT market movements. Practical implications – The findings should be of particular interest for REIT market investors, as the established relationships can potentially be utilized to anticipate short-term REIT market movements. Originality/value – This is the first paper which applies Google search query data to the REIT market.

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Section: Resultssupporting

confidence: 79%

Outperforming the benchmark: online information demand and REIT market performance

Rochdi

Dietzel

2015

Journal of Property Investment &Amp; Finance

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“…Для формирования полной картины и оценки применимости тех или иных решений по вариантам финансирования целесообразно, на наш взгляд, использовать европейский опыт. В то же время не стоит игнорировать тот факт, что даже в очень похожих условиях результаты аналогичных решений могут существенно разниться [10].…”

Section: обоснование необходимости перехода к проектному финансированиюunclassified

Analysis of the Factors of Housing Cost Formation During the Transition to Project Financing of Housing Construction

Кучина¹,

Morozova²

2018

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“…Garvin (1987) menyebutkan 8 dimensi kualitas produk, yaitu : performance,features,reliability, conformance, durability, serviceability, aesthetics, perceived quality. Namun, Yeboah et al (2012) mengatakan bahwa kualitas produk tersebut tidak cukup 8 seperti yang dikatakan oleh Garvin (1987), melainkan dibutuhkan faktor investasi sebagai salah satu faktor penting untuk pengukuran kualitas produk. Faktor investasi yang diusulkan oleh Yeboah et al (2012) tersebut juga digunakan dalam penelitian di properti oleh Thedja dan Wiguna (2013).…”

Section: Kualitas Produkunclassified

“…Dari sisi kualitas produk dikatakan tidak komprehensif karena penelitian sebelumnya tidak menggunakan semua variabel kualitas produk yang disarankan oleh Garvin (1987) sebagai pencetusnya. Yeboah et al (2012) mengusulkan variabel investasi agar kualitas produk yang diusulkan Garvin (1987) lebih baik. Sedangkan dimensi kualitas produk dari Mulyono (2008) tidak memuat variabel reliability, conformance quality, dan serviceability serta investasi.…”

Section: Penelitian Sebelumnyaunclassified

Model Pengukuran Kepuasan Pelanggan Perumahan Tipe 70-350 M2 Di Tiga Perumahan Di Surabaya Dan Sidoarjo

Hartanto¹,

Wahjudi

Yakobus

2015

duts

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Property plays important role in economy business activities. In 2013 property grows by 800,000 units per year, while the supply capacity is only 300,000 units per year. This fact makes the property growth become more interesting. This growth is supported by the middle class growth that reaches 100 million people in 2013 and is estimated to be 141 million people in 2020. Previous research is done on one residential area. This research aims to develop a residential satisfaction measurement model of middle class residential customers in Surabaya-Sidoarjo. This study is different from the previous one in that this research conducts survey on 3 residential complexes and utilizes more comprehensive model. 226 respondents from 3 residential areas in Surabaya-Sidoarjo were collected. The implication of this study is to give the information about the variables that are significant, the level of satisfaction of the consumers on those variables, and improvement priority for developers.The measurement model consists of 8 service quality variables and 9 product quality variables. Our finding shows that assurance and responsiveness are the most important variables in service quality. In product quality dimension, conformance and reliability are the most important variables. In addition, all developers need to improve empathy as the top priority of service quality, while features, serviceability and conformance are the top priority for improvement in terms of product quality.

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Information, uncertainty, and behavioral effects: Evidence from abnormal returns around real estate investment trust earnings announcements

Cited by 12 publications

References 65 publications

Outperforming the benchmark: online information demand and REIT market performance

Outperforming the benchmark: online information demand and REIT market performance

Analysis of the Factors of Housing Cost Formation During the Transition to Project Financing of Housing Construction

Model Pengukuran Kepuasan Pelanggan Perumahan Tipe 70-350 M2 Di Tiga Perumahan Di Surabaya Dan Sidoarjo

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