Acceso al sitio web del Consejo de Políticas de Infraestructura

   
Redirigiendo al acceso original de articulo en 22 segundos...
ARTÍCULO
TITULO

Estimating Beta for the Real Estate Sector Based on the Real Estate Investment Trusts Performance in Colombia

Leonardo Santana Viloria    

Resumen

The creation of property investment funds in Colombia has made portfolio diversification possible by allowing parties to invest in the property sector without buying and managing real estate directly. In recent years, the behavior of these funds has shown higher average profits and lower volatility than that of the market. This study applies the Capital Asset Pricing Model (CAPM) and estimates various autoregressive models and models of conditional heteroscedasticity, in order to calculate the beta of these funds as an estimate of the property sector?s sensitivity to systematic risk. Results show that the risk level of the property sector is far lower than that of the market, suggesting that real estate projects have much lower capital costs than projects in other sectors.

PÁGINAS
pp. 83 - 95
MATERIAS
ECONOMÍA

 Artículos similares

       
 
Lioara-Veronica Pasc and Camelia-Daniela Hategan    
The growing expenses, dependence on IT for business operations, and growing requirements regarding related party transaction (RPT) reporting impose the need for increased attention to this area. The paper?s objective is to examine the nature of RPTs, ide... ver más

 
Hande Karadag,Berna Balci Izgi     Pág. 52 - 57
The role of innovation in economic development has long been a topic of discussion among economists. Despite that, the economic pay-off mechanisms which support or hinder innovative entrepreneurial acts, particularly in the emerging economy context are s... ver más

 
Emi Ita Bonita Simatupang, Veronica Yulinar Ernita, Bonifasya Silalahi, Dina Rosalina, Maya Sabirina Panggabean     Pág. 905 - 914
Economic conditions in Indonesia are currently in a fairly good development period, this can be seen from the number of companies that are growing and continuing to develop, one of which is manufacturing companies. This study uses a sample of 95 property... ver más

 
Yasmin Yasmin, Hartati Wau, Nabila Tatcher, Nintha Katharina     Pág. 1087 - 1096
In this investigation, it is relied upon to test the influence of the audit committee as measured by the size of the number of committee members, and external audit is measured by whether the company uses the big four watchdog or not, then profitability ... ver más

 
Byron J. Idrovo-Aguirre, Francisco J. Lozano and Javier E. Contreras-Reyes    
In this paper, we approached the concept of real estate bubble, analyzing the risk its bursting could generate for the Chilean financial market. Specifically, we analyzed the relationship between real housing prices, the economic activity index, and mort... ver más