A study of Performance Evaluation and Risk on Real Es-tate Investment Trust in Singapore-The S-REIT Case Analysis

• Main Authors: Chen Pai-Shinen, 陳佩嫻
• Other Authors: Lai Wen-Kuei
• Format: Others
• Language: zh-TW
• Published: 2007
• Online Access: http://ndltd.ncl.edu.tw/handle/87618785744755862924

碩士 === 大葉大學 === 國際企業管理學系碩士班 === 95 === 1997-98 year financial crisis in Asia period receives the heavy losses because of many real estate markets collapse. Hereafter, the partial Asian government will promul-gate the legal permission to distribute REIT, will promote the weak real estate industry. Singapore at present has 13 REIT on the REIT market, is outside Japan the Asian big-gest real estate trust market. Therefore this research wants to discuss the Singapore de-velopment real estate negotiable securities experience to be able to take the Taiwan real estate negotiable securities reference.The investigation is using S-REIT as sample , re-search period is from January 1, 2006 to February 28, 2007.The sample counts S-REIT altogether 4. The investigation evaluate S-REIT the and performance.Using the CAPM explains the sample corporate investment reward and the riskrelations by the capital as-set fixed price pattern. Utilizes the simple moving average method and the GARCH analysis in the risk examination carries on the risk inspection to Singapore each REIT. Count from the reward and the risk looked that, Each average reward and the risk value discovered CapitaCommercial Trust is highest. Looked from the risk assessment, no matter the faith sector, extracts the risk value, GARCH (1,1) nearly higher than the sim-ple movingl average volatility.