Real Estate and Finance

A special issue of Economies (ISSN 2227-7099).

Deadline for manuscript submissions: closed (15 June 2019) | Viewed by 14826

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Guest Editor
Department of Finance, National University of Kaohsiung, Kaohsiung, Taiwan
Interests: real estate; housing economics; housing markets; finance
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

After the subprime mortgage crisis in 2007, the collapse of Lehman Brothers in 2008, and the European debt crisis in 2010, there has been an expansion of theoretical and empirical research on real estate and finance. Considerable research has focused on factors that destabilized the real estate and financial markets.

Traditional theory suggests that the asset market can be corrected quickly through an influx of arbitrage funds when imbalanced, hence, the market would not remain inefficient for long periods. Those studies are unable to explain the reason why the real estate market continues to adjust at a slow pace, resulting in market bubble and collapse. The real estate market bubble, the inefficiency of real estate market, the relationship between the real estate and financial markets, and the irrational behaviour of investors are questions that need to be addressed.

We invite investigators to contribute original research articles in theory, practice and applications of “Real Estate and Finance”. All submissions must contain original unpublished work not being considered for publication elsewhere.

Prof. Dr. I-Chun Tsai
Guest Editor

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Published Papers (2 papers)

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Research

23 pages, 748 KiB  
Article
An Empirical Study on the Determinants of an Investor’s Decision in Unit Trust Investment
by Sanmugam Annamalah, Murali Raman, Govindan Marthandan and Aravindan Kalisri Logeswaran
Economies 2019, 7(3), 80; https://doi.org/10.3390/economies7030080 - 06 Aug 2019
Cited by 10 | Viewed by 9707
Abstract
Unit trust is a convenient way of investing and a sensible way to build one’s wealth in the medium term and subsequently in the long-term. Investment specialists will manage the investments and spread the risks through careful diversification. The basic nature of the [...] Read more.
Unit trust is a convenient way of investing and a sensible way to build one’s wealth in the medium term and subsequently in the long-term. Investment specialists will manage the investments and spread the risks through careful diversification. The basic nature of the unit trust is that it carries a low-level of risks and accordingly determines a lower level of returns compared to other financial instruments. There is a lack of research that empirically investigates the factors that influence an investor’s decision in unit trust investment, particularly in a Malaysian setting. The purpose of this study is to analyse the factors that influence an investor’s investment decision in purchasing a unit trust. This paper aims to narrow this research gap, whereby financial status, risk taking behaviour, investment revenue and related information are hypothesized to exert statistically significant influences on the investor’s decision in unit trust investment. The empirical study uses a quantitative research approach whereby survey data have been sampled from 202 participants using a convenient sampling technique. This research is cross-sectional and uses primary data for analysis. Data analysis has been carried out using multiple regression analysis. The empirical research finds that financial status, risk taking behaviour, and sources of information significantly influence the investors’ investment behaviours in unit trusts. However, there was not enough evidence to support the claims that investment return and revenue have a statistical relationship to the investors investment behaviours regarding unit trusts. The findings from this research will have huge implications for investors and for financial institutions. This paper helps fund managers and brokers to understand the behaviours of an individual investor in response to a unit trust. On the other hand, this helps them to better target their customers, and persuade customers to make their investments in a unit trust effectively and efficiently, thereby helping them to manage their financial wealth with less risk but better future prospects. Full article
(This article belongs to the Special Issue Real Estate and Finance)
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11 pages, 2393 KiB  
Article
How Housing Affects Stock Investment—An SEM Analysis
by Jiandong Li and Jianmei Zhao
Economies 2019, 7(1), 26; https://doi.org/10.3390/economies7010026 - 25 Mar 2019
Cited by 3 | Viewed by 4774
Abstract
The extant literature regarding the effects of housing on stock investment shows inconsistent findings, either positive or negative effects have been reported. This paper investigates the mechanisms by which housing affects household stock investment through a structure equation model (SEM). Applying the data [...] Read more.
The extant literature regarding the effects of housing on stock investment shows inconsistent findings, either positive or negative effects have been reported. This paper investigates the mechanisms by which housing affects household stock investment through a structure equation model (SEM). Applying the data from the China Household Finance Survey (CHFS), we confirm and quantify the magnitudes of contemporaneous “wealth effects” and “crowd-out effects” of housing on household equity investment. Overall, the combined effect of housing on stock investment is positive in the context of urban China. Full article
(This article belongs to the Special Issue Real Estate and Finance)
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