29 PagesPosted: 9 Jun 2019Last revised: 9 May 2022
See all articles by Sultan Khan
Sultan Khan
Karachi University Business School
Danish Ahmed Siddiqui
University of Karachi - Karachi University Business School
Date Written: June 1, 2019
Abstract
This paper investigates the factors that can affect the Real Estate Investment Trust (REIT)’s performance, paying particular attention to REITs’ in nascent, emerging, developed markets. Sample of 21 listed REITs are selected from five countries of nascent, emerging, developed markets namely Pakistan, Malaysia, Thailand, Singapore and Hong Kong for 10 years basis from 2008 to 2018 with 350 observations. Study used Net Asset value (NAV) as the proxy for REITs performance while internal factors namely dividend yield, net income and size, the external factors used are stock index, inflation and interest rate. Applying multiple regression analysis, the results provide positive association of NAV with dividend yield, net income, size, inflation and stock index while negative relationship of interest rate with NAV. Results of this study are helpful for the investors and portfolio managers to expand their marketwise understanding of the influential factors that affect the performance of REITs.
Keywords: Net asset value (NAV), Real Estate Investment Trust (REITs), Interest rate and Dividend Yield, inflation, Pakistan
Suggested Citation:Suggested Citation
Khan, Sultan and Siddiqui, Danish Ahmed, Factor Affecting the Performance of REITs: An Evidence from Different Markets (June 1, 2019). Available at SSRN: https://ssrn.com/abstract=3397481 or http://dx.doi.org/10.2139/ssrn.3397481
Sultan Khan
Karachi University Business School ( email )
Karachi
Pakistan
Danish Ahmed Siddiqui (Contact Author)
University of Karachi - Karachi University Business School ( email )
University Road
Karachi, Sindh 75270
Pakistan
3333485884 (Phone)