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Performance Comparison Between Real Estate Securities and Real Estate Investment Using Stochastic Dominance and Mean-Variance Analysis

ICESBA

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Authentication Code dc
 
Title Statement Performance Comparison Between Real Estate Securities and Real Estate Investment Using Stochastic Dominance and Mean-Variance Analysis
 
Added Entry - Uncontrolled Name Aekkachai NITTAYAGASETWAT; <p class="normal">Assoc. Prof. Ph.D., <em>National Institute of Development Administration, Bangkapi, Bangkok, 10240, Thailand</em></p> <p class="normal"><em> Tel: +66 2 727 3932 , Fax: + 66 2 374 3282</em></p> <div><p class="normal"> </p></div>
Jiroj BURANASIRI; <p class="normal"><em>Srinakharinwirot University, Wattana, Bangkok, 10110, Thailand, Tel: +66 2 169 1018</em></p><p class="normal"> </p>
National Institute of Development Administration
 
Uncontrolled Index Term National Institute of Development Administration
Performance; investment; real estate; real estate securities; mean-variance analysis; stochastic dominance
G
 
Summary, etc. Unlike in the past, different choices for real estate investment are now available for investors. Real estate securities were introduced as another alternative investment vehicle for real estate investors. To promote efficient investment in real estate and real estate securities, this paper explores the relative performance of different types of real estate investment including land, town home, single house, and real estate securities in Thailand from April 2008 to May 2016 by applying mean-variance and stochastic dominance techniques. The results of this examination suggest that real estate market is not efficient and asset allocaion plays important role in real estate investment performance. Mean-variance and stochastic dominance analysis report the same result that town home investment dominates single house investment and land investment dominates condominium investment. Beside trying to choose the best real estate or real estate security in their portfolio, investors should put extra effort in finding the proper types of real estate for their portfolio. 
 
Publication, Distribution, Etc. ICESBA 2016: International Conference on Economic Sciences and Business Administration
2016-10-07 18:02:01
 
Index Term - Genre/Form Peer-reviewed Paper
 
Electronic Location and Access application/pdf
http://icesba.eu/ocs/index.php/icesba2016/icesba2016/paper/view/126
 
Data Source Entry ICESBA 2016: International Conference on Economic Sciences and Business Administration; ICESBA 2016 INTERNATIONAL CONFERENCE ON ECONOMIC SCIENCES AND BUSINESS ADMINISTRATION 3rd edition
 
Language Note en
 
Nonspecific Relationship Entry http://icesba.eu/ocs/index.php/icesba2016/icesba2016/paper/download/126/141
 
General Note Thailand
April 2008 to May 2016
real estate and real estate securities
 
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