The Study on the influence factors of revenue risk of Real Estate Investment Trusts(REITs)

• Main Authors: Cheng-Yi Chen, 陳政毅
• Other Authors: Jiun-Yi Shiu
• Format: Others
• Language: zh-TW
• Published: 2005
• Online Access: http://ndltd.ncl.edu.tw/handle/18729432702903813756

碩士 === 開南管理學院 === 財務金融系碩士班 === 93 === Real Estate Investment Trusts(REITs) has been an important pattern for world since 1960 in America. Because of experiences in America, REITs starts to drive.Many regions in Asia, such as Singapore, Japan, Korea, Hong Kong, and Taiwan have followed the successful experiences in REITs of America. However, from the points of view of Investment on REITs, it is return that Investor care for. Return and Risk are two sides of a coin on Risk of REITs.Most previous literatures have used only one risk factor to measure the revenue of REITs, and rarely have applied more than one . The purpose of this thesis includes follows 1. The quantitative and qualitative data analyses of REITs 2. The influence factors of revenue risk of REITs 3. The direction of the influence factors of revenue risk of REITs There are four types of independent variable. Stock, bond, Real Estate, and Macroeconomic, eleven observations. There are 206 samples. The study period for the TEJ from April 1st 2002 to December 31st 2004. The methods used descriptive statistics, ANOVA analysis, correlation analysis and multiple regressions methods In summary Conclusion as follows 1. Bond variable have a positive direction to revenue risk of REITs 2. Home building Product Index have a positive direction to revenue risk of REITs 3. Taiwan Industry Stock Product Index have a negative direction to revenue risk of REITs 4. MODEL8 is a good forecast to expect revenue REITs