Empirical study on influence of credit regulation polices to real estate industry

被引:0
|
作者
Chen, DS [1 ]
Lei, JS [1 ]
机构
[1] Tsing Hua Univ, Sch Management, Beijing 100084, Peoples R China
来源
Proceedings of 2005 International Conference on Construction & Real Estate Management, Vols 1 and 2: CHALLENGE OF INNOVATION IN CONSTRUCTION AND REAL ESTATE | 2005年
关键词
credit; bubble; regulation polices; real estate;
D O I
暂无
中图分类号
TP [自动化技术、计算机技术];
学科分类号
0812 ;
摘要
This paper employs Multivariate Regression Models, Seemingly Unrelated Regression and the Country Real Estate Prosperity Indices to empirical study influence of a series of credit regulation policy on real estate enterprises and real estate industry of China during 2002 to 2004. The empirical study shows that China's deflatable credit regulation policy produced three effectiveness as follows: (1) Public listed real estate enterprises produced significant negative cumulative abnormal return ratio and the shareholders' property reduced. (2) The systematic risk of public listed real estate enterprises significantly increased. (3) Investment of the whole real estate industry were slowed, and the price of real estate were risen.
引用
收藏
页码:1031 / 1033
页数:3
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