This paper shows that ignoring differences in developers’ competitive strength and their bidding behavior in land auctions leads to distorted valuation of urban lands. Using the government’s land sale data in Singapore for the sample periods 1990–2011, we found that after controlling for...

Amtrak launched free Wi-Fi internet service (“AmtrakConnect”) on all trains of the California Capitol Corridor route (CC) on November 28, 2011. In March 2012, an onboard survey was conducted to evaluate the impact of the Wi-Fi service on ridership. We develop descriptive statistics and...

Recent studies have documented an asymmetry in the market-beta of equity Real Estate Investment Trusts (REITs) based on high and low Gross Domestic Product (GDP) growth states, as well as in bull and bear stock markets. The asymmetry has been deemed a puzzle (Chatrath <italic>et al</italic>., 2000; Chiang <italic>et al</italic>.,...

We use a matching procedure to construct three commercial real estate indices (office, shop and multiple-user factory) in Singapore using transaction sales from 1995Q1 to 2010Q4. The matching approach is less restrictive than the repeat sales estimator, which is restricted to properties sold at...

This study empirically examines the dynamics of the private industrial market in Singapore using a Vector Error Correction Model (VECM), which is derived based on the theoretical framework of an extended accelerator investment model. The GDP in manufacturing sector (LMGDP) and the composite...

ERES:conference

[abstract missing - contribution appeared in the programme]

ERES:conference

The market integration hypothesis in the latent common market factors study by Mei and Liu (1994) suggests that when the risk premiums of the investment can be captured by common risk beta in overall stock, both and real estate markets, the financial and real estate markets can be deemed to be...

Optimal timing and investment strategies are critical in markets when project demand is uncertain. When developer has more than one project located in close proximity to each other, interactive effects will have significant effects on the optimal timing decision. If positive interactive effects...