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Author: Ho Kim Hin/David
Publisher: Partridge Publishing Singapore
ISBN: 1543760066
Category : Business & Economics
Languages : en
Pages : 484
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Book Description
This book is concerned with the unique findings, contributions and recommendations made on several crucial issues, relating to the concomitant subjects of direct real estate (DRE) risk premiums and DRE risk management. Chapter 1 examines the institutional nature of legal origin and the total returns (TRs), from investing in a country’s DRE and via the adoption of a multi-factor arbitrage pricing theory (APT) model. Chapter 2 affirms the true historical volatility to be a reasonable estimation of international DRE risk premiums, when the autoregressive lag orders of the de-smoothed returns and the multi-factor model are taken into account. Chapter 3’s real world of international DRE investing counts on sustainable international DRE investing, imperative for the investing organization’s willingness and preparedness to effectively manage risk or uncertainty, early enough as part of the risk management cycle, in pursuing high risk-adjusted TRs for DRE assets. Chapter 4 recommends a model of the intuitive build-up approach of forming the DRE investment hurdle rates for new DRE investing. The resultant DRE risk premiums serve a rough guide to ensure that the DRE hurdle rate is stringent and high enough, to achieve the risk-adjusted and Sharpe-optimal portfolio TR. Chapter 5 examines the integrated DRE investment strategy for a 13-city Pan Asia DRE portfolio, of office, industrial real estate and public listed DRE companies, adopting the analytic hierarchy process (AHP) and the Markowitz quadratic programming models. Such models enable the versatile strategic asset (SAA) and the tactical asset (TAA) allocations. Chapter 6 enables the DRE institutional investor to achieve a comprehensive and in-depth return and risk assessment at the DRE level for the 4 prime Asia residential sectors of Shanghai (SH), Beijing (BJ), Bangkok (BK), and Kuala Lumpur (KL), under the DRE VaR, incremental DRE VaR and the risk-adjusted return on capital (RAROC), Chapter 7 reiterates that public policies on macroeconomic management have to be consistent and non-conflicting in a widely accepted ‘policy compact’. It is because the policies reinforce the fundamental investment value of large and complex developments, affecting the sustainable viability like the integrated resort (IR)-at-Marina-Bay, Singapore. Chapter 8 draws attention to the aftermath of the Asian economic crisis, terrorism and viral epidemics, that compel more DRE investors to risk-diversify their operations beyond their primary market into other parts of Asia. However, limited studies examine risk-reduction diversification strategies via split returns i.e. decomposing TRs into rental-yield returns and capital value (CV) returns. Chapter 9 proposes and recommends the intelligent building (IB) framework, via the fuzzy logic (FL) engine, leading to a robust measure of building intelligence, and a standard guideline for a consistent performance-based structure for the promotion of the correct IB classification.
Author: Ho Kim Hin/David
Publisher: Partridge Publishing Singapore
ISBN: 1543760066
Category : Business & Economics
Languages : en
Pages : 484
Get Book Here
Book Description
This book is concerned with the unique findings, contributions and recommendations made on several crucial issues, relating to the concomitant subjects of direct real estate (DRE) risk premiums and DRE risk management. Chapter 1 examines the institutional nature of legal origin and the total returns (TRs), from investing in a country’s DRE and via the adoption of a multi-factor arbitrage pricing theory (APT) model. Chapter 2 affirms the true historical volatility to be a reasonable estimation of international DRE risk premiums, when the autoregressive lag orders of the de-smoothed returns and the multi-factor model are taken into account. Chapter 3’s real world of international DRE investing counts on sustainable international DRE investing, imperative for the investing organization’s willingness and preparedness to effectively manage risk or uncertainty, early enough as part of the risk management cycle, in pursuing high risk-adjusted TRs for DRE assets. Chapter 4 recommends a model of the intuitive build-up approach of forming the DRE investment hurdle rates for new DRE investing. The resultant DRE risk premiums serve a rough guide to ensure that the DRE hurdle rate is stringent and high enough, to achieve the risk-adjusted and Sharpe-optimal portfolio TR. Chapter 5 examines the integrated DRE investment strategy for a 13-city Pan Asia DRE portfolio, of office, industrial real estate and public listed DRE companies, adopting the analytic hierarchy process (AHP) and the Markowitz quadratic programming models. Such models enable the versatile strategic asset (SAA) and the tactical asset (TAA) allocations. Chapter 6 enables the DRE institutional investor to achieve a comprehensive and in-depth return and risk assessment at the DRE level for the 4 prime Asia residential sectors of Shanghai (SH), Beijing (BJ), Bangkok (BK), and Kuala Lumpur (KL), under the DRE VaR, incremental DRE VaR and the risk-adjusted return on capital (RAROC), Chapter 7 reiterates that public policies on macroeconomic management have to be consistent and non-conflicting in a widely accepted ‘policy compact’. It is because the policies reinforce the fundamental investment value of large and complex developments, affecting the sustainable viability like the integrated resort (IR)-at-Marina-Bay, Singapore. Chapter 8 draws attention to the aftermath of the Asian economic crisis, terrorism and viral epidemics, that compel more DRE investors to risk-diversify their operations beyond their primary market into other parts of Asia. However, limited studies examine risk-reduction diversification strategies via split returns i.e. decomposing TRs into rental-yield returns and capital value (CV) returns. Chapter 9 proposes and recommends the intelligent building (IB) framework, via the fuzzy logic (FL) engine, leading to a robust measure of building intelligence, and a standard guideline for a consistent performance-based structure for the promotion of the correct IB classification.
Author: Kim Hin / David Ho
Publisher: Partridge Publishing Singapore
ISBN: 1543766919
Category : Biography & Autobiography
Languages : en
Pages : 156
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Book Description
The book concludes with my life achievements, then discusses my expanded work experience, my published articles, my published books and citations of my articles.
Author: Soner Gokten
Publisher: BoD – Books on Demand
ISBN: 9535137360
Category : Computers
Languages : en
Pages : 334
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Book Description
One of the main reasons to name this book as Financial Management from an Emerging Market Perspective is to show the main differences of financial theory and practice in emerging markets other than the developed ones. Our many years of learning, teaching, and consulting experience have taught us that the theory of finance differs in developed and emerging markets. It is a well-known fact that emerging markets do not always share the same financial management problems with the developed ones. This book intends to show these differences, which could be traced to several characteristics unique to emerging markets, and these unique characteristics could generate a different view of finance theory in a different manner. As a consequence, different financial decisions, arrangements, institutions, and practices may evolve in emerging markets over time. The purpose of this book is to provide practitioners and academicians with a working knowledge of the different financial management applications and their use in an emerging market setting. Six main topics regarding the financial management applications in emerging markets are covered, and the context of these topics are "Capital Structure," "Market Efficiency and Market Models," "Merger and Acquisitions and Corporate Governance," "Working Capital Management," "Financial Economics and Digital Currency," and "Real Estate and Health Finance."
Author: Stephanie Krewson-Kelly
Publisher: John Wiley & Sons
ISBN: 1119252768
Category : Business & Economics
Languages : en
Pages : 216
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Book Description
The go-to guide for smart REIT investing The Intelligent REIT Investor is the definitive guide to real estate investment trusts, providing a clear, concise resource for individual investors, financial planners, and analysts—anyone who prioritizes dividend income and risk management as major components to wealth-building. The REIT industry experienced a watershed event when Standard & Poors created a new Global Industry Classification Standard (GICS) sector called Real Estate. Publicly traded equity REITs have been removed from Financials, where they have been classified since their creation in 1960, and have begun trading as their own S&P Sector. This separation from banks and financial institutions has attracted new investors, but REITs require an industry-specific knowledge that is neither intuitive nor readily accessible to newcomers—until now. Using straightforward language and simple example to illustrate important concepts, this book will enable any reader to quickly learn and understand the lexicon and valuation techniques used in REIT investing, providing a wealth of practical resources that streamline the learning process. The discussion explains terminology, metrics, and other key points, while examples illustrate the calculations used to evaluate opportunities. A comprehensive list of publicly-traded REITs provides key reference, giving you access to an important resource most investors and stockbrokers lack. REITs are companies that own or finance commercial rental properties, such as malls and apartment buildings. Despite historically high total returns relative to other investments, such as the Nasdaq or S&P 500 index, most investors are unfamiliar with the REIT industry, and wary of investing without adequate background. This book gets you up to speed on the essentials of REIT investing so you can make more informed—and profitable—decisions. Understand REITs processes, mechanisms, and industry Calculate key metrics to identify suitable companies Access historical performance tables and industry-specific terminology Identify publicly-traded REITs quickly and easily REITs have consistently outperformed many more widely known investments. Over the past 15-year period, for example, REITs returned an average of 11% per year, better than all other asset classes. Since 2009, REITs have enjoyed positive returns; large cap stocks and cash are the only other classes that paralleled that record. Even in 2015, a 'year of fear' related to rising rates, REITs returned 2.4%, beating most all other asset classes. REITs have a long history (over fifty years) of performance, and have entered the big leagues. If you feel like you've been missing out, don't keep missing out. Prepare yourself, and your portfolio, to benefit from the demand for REITs that have followed the creation of a Real Estate GICS sector. The Intelligent REIT Investor gives you the information you need to invest wisely and manage your real estate risk effectively. By maintaining a tactical exposure in the brick and mortar asset class, investors should benefit from the information contained in The Intelligent REIT Investor. Join the REIT world and look forward to owning stocks that will help you to sleep well at night.
Author: Speed, Robert
Publisher: UNESCO Publishing
ISBN: 9231000942
Category :
Languages : en
Pages : 215
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Book Description
Author: Donald DePamphilis
Publisher: Academic Press
ISBN: 0123854857
Category : Business & Economics
Languages : en
Pages : 784
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Book Description
Two strengths distinguish this textbook from others. One is its presentation of subjects in the contexts wherein they occur. The other is its use of current events. Other improvements have shortened and simplified chapters, increased the numbers and types of pedagogical supplements, and expanded the international appeal of examples.
Author: Jiazhuo G. Wang
Publisher: Springer
ISBN: 9811058431
Category : Business & Economics
Languages : en
Pages : 154
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Book Description
This book addresses the integration of the Internet and finance which recently has been one of the most notable topics of discussion in the media, the business community, academia, and among policymakers, both in China and worldwide. As a comprehensive, in-depth analysis of the one of the fastest growing industries in China, the book covers all the most important areas and issues in the crowdfunding industry in China, including the definition, types, and history of crowdfunding, the scale of the crowdfunding market, the basic business models and risk analysis of crowdfunding, the characteristics of the typical crowdfunding platforms, case studies of the leading crowdfunding platforms in China, and the future development of the crowdfunding industry in China. The book combines theoretical analysis with conceptual discussions and best practices in the crowdfunding industry in China. It is of interest to a variety of readers around the globe, such as (1) existing and potential fund demanders; (2) existing and potential fund providers; (3) investors and professionals running crowdfunding platforms; (4) professionals and major shareholders of traditional financial institutions; (5) staff in regulatory government agencies; (6) academics; and (7) the general public.
Author: John S. Akin
Publisher: World Bank Publications
ISBN: 9780821309001
Category : Business & Economics
Languages : en
Pages : 104
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Book Description
This report discusses several different approaches that support reforming health care services in developing countries. For some time now, health care services have been supported by government funds. As demands for improving health care services continue to increase additional demands will be placed on governments to respond. This, however, will not be easy. Slow economic growth and record budget deficits in the 1980's have forced reductions in public spending. Alternative approaches to finance health care services are needed. Such possible changes could involve: decentralization of federal government involvement; the promotion of nongovernment involvement; the imposition of user fees; and, establishing health insurance. Finally, the role of the Bank in pursuing new financing strategies is discussed.
Author: Yves Hilpisch
Publisher: John Wiley & Sons
ISBN: 1119167930
Category : Business & Economics
Languages : en
Pages : 398
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Book Description
Leverage Python for expert-level volatility and variance derivative trading Listed Volatility and Variance Derivatives is a comprehensive treatment of all aspects of these increasingly popular derivatives products, and has the distinction of being both the first to cover European volatility and variance products provided by Eurex and the first to offer Python code for implementing comprehensive quantitative analyses of these financial products. For those who want to get started right away, the book is accompanied by a dedicated Web page and a Github repository that includes all the code from the book for easy replication and use, as well as a hosted version of all the code for immediate execution. Python is fast making inroads into financial modelling and derivatives analytics, and recent developments allow Python to be as fast as pure C++ or C while consisting generally of only 10% of the code lines associated with the compiled languages. This complete guide offers rare insight into the use of Python to undertake complex quantitative analyses of listed volatility and variance derivatives. Learn how to use Python for data and financial analysis, and reproduce stylised facts on volatility and variance markets Gain an understanding of the fundamental techniques of modelling volatility and variance and the model-free replication of variance Familiarise yourself with micro structure elements of the markets for listed volatility and variance derivatives Reproduce all results and graphics with IPython/Jupyter Notebooks and Python codes that accompany the book Listed Volatility and Variance Derivatives is the complete guide to Python-based quantitative analysis of these Eurex derivatives products.
Author: Robert A. Korajczyk
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 424
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Book Description
A comprehensive reference work presenting an original framework for evaluating observed differences in returns across assets.
