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A Risk Management Decision Support System for the Real Estate Industry
Raul Valverde
International Journal of Information and Communication Technology Research , 2011,
Abstract: The purpose of this work is to build a risk management decision support system for the real estate industry. The decision support system would be useful for risk managers interested in real estate investment. The paper identifies the main risk management related decisions that real estate professionals made on a daily basis. Risk management decision models are selected from an extensive literature review. These models are incorporated into a decision support system. A set of reports that will support risk management real estate decisions are designed and implemented in a prototype built to demonstrate the potential of this technology in the real estate industry. The database of the decision support is populated with a sample of data collected from the real estate market of the state of California USA and results were generated to illustrate how reports can be used to support real estate risk management decisions.
基于空间异质性的中国住房空置率与房地产金融风险研究
Research on China's Housing Vacancy Rate and Real Estate Financial Risk Based on Spatial Heterogeneity
 [PDF]

,,,,黎小佳
- , 2018,
Abstract: 运用空间计量方法,利用2004-2015年30省市面板数据考量住房空置率对房地产金融风险的影响。结果表明:中国房地产金融风险在空间上存在显著的正向关联,地理距离和经济距离均会对区域房地产风险及其空间相关性产生显著影响,在考虑了空间影响后住房空置率对房地产金融风险的影响显著为正。
The influence of housing vacancy rate on real estate financial risk is analyzed using the spatial econometric method and panel data of 30 provinces and cities during 2004-2015. The results show that there is a significant positive correlation between the real estate financial risk in China, the geographical distance and the economic distance will have a significant impact on the regional real estate risk and its spatial correlation, and the effect of the housing vacancy rate on the real estate financial risk is significantly positive after considering the spatial impact.
Challenges Facing Sustainable Real Estate Marketing and Practice in Emerging Economy: Case Study of Nigeria  [cached]
Ayotunde Olawande Oni,Michael Adedayo Adebayo
International Journal of Marketing Studies , 2012, DOI: 10.5539/ijms.v4n1p58
Abstract: The challenges facing estate surveying and valuation practice across the world are enormous, and the future of the profession is being questioned, especially in Nigeria. There are pressures for practitioners to secure instructions and at same time meet increasingly complex and stringent standards of professional practice. This study provides a perspective of issues confronting the profession across the globe relying on a review of literature, while data on the Nigerian situation were obtained through the primary source. Three thousand Estate Surveyors and Valuers across the country were surveyed using the internet-based SurveyMonkey software. The analysis indicated that “topping up”, “gazumping”, “gazundering”, low level of salaries and misdemeanors by the ever-increasing number of charlatans are major challenges facing the profession. In addition, majority of practitioners confessed to involvement in mounting of multiple signboards, collection of double fees, and soliciting for jobs with financial inducements. It was therefore recommended that prosecution of erring members, encouragement of non-professionals to attend formal training, and establishment of a college for such training, enforcement of professional standards, and adoption of proactive stance on laws that are inimical to sustainable real estate practice to ensure an enduring professional practice.
Analysing and Optimising Bank Real Estate Portfolio by Using Impulse Response Function, Mahalanobis Distance and Financial Turbulence  [PDF]
Ognjen Vukovic
Open Journal of Business and Management (OJBM) , 2015, DOI: 10.4236/ojbm.2015.33032
Abstract: This paper analyses one of the main factors that cause financial crisis and that are real estate portfolio management in banks. VAR and SVAR models were introduced and impulse response functions were obtained. The aforementioned function demonstrated how residential prices reacted to shock. Afterwards, financial turbulence index based on Mahalanobis distance and correlation between real estate prices in Austria, Germany and Switzerland was calculated and its relation to stock prices in EURO area. Financial turbulence demonstrated the lagging effect of financial crisis originating from USA. Data were taken from St. Louis FED database. Having calculated correlations, portfolio was created consisting of REITs, ETFs and stocks. It was optimised and efficient frontiers were found for different portfolio weightings. It was proved that the best way to optimise real estate portfolio was to invest in Swiss real estate as prices were growing and to hedge with Austrian real estate or some variations of ETFs.
Financing Risk of Real Estate Enterprises and Its Prevention and Control Measures  [PDF]
Hongen Guan
Open Journal of Business and Management (OJBM) , 2019, DOI: 10.4236/ojbm.2019.74120
Abstract: Real estate industry has become the pillar industry of the national economy. It needs huge financial support because of its high relevance and high value. At present, the development of real estate financial market in China is slow, which will endanger the sustainable and healthy development of real estate enterprises. Only by effective financing can we improve the market competitiveness of real estate enterprises. This paper expounds the types of financial risks in real estate, analyses the current situation of financing risks in real estate enterprises, and puts forward effective countermeasures to prevent and control financial risks in real estate enterprises.
Risk Decision Analysis of Commercial Real Estate  [PDF]
Guodong Liu, Xiuli Tang
iBusiness (IB) , 2013, DOI: 10.4236/ib.2013.53B009
Abstract:

With the increasing of construction of logistics parks, it is essential for commercial real estate project to study on risk decision to avoid redundant and blind construction. Based on risk essence, the paper analyses the attitude of investment decision-makers on risk benefits. Finally, the paper improves the expected utility theory and applies the prospect theory to risk decision of commercial real estate project to provide scientific and objective basis for Project Investment Decision.

Evaluation on the Financial Competitiveness of Chinese Listed Real Estate Companies Based on Entropy Method  [PDF]
Wei Lin,Linbo Shao
Quantitative Finance , 2013,
Abstract: The real estate is a pillar industry of China's national economy. Due to changes in policy and market conditions, the real estate companies are facing greater pressures to survive in a competitive environment. They must improve their financial competitiveness. Based on the conceptual framework of financial competitiveness, this paper presented a financial competitiveness evaluation index system, covering four aspects, including profitability, solvency, sustainable development and operational capacity. Entropy value method is applied to determine the index weight. 105 listed real estate company's financial competitiveness are evaluated, the results show that: high-scoring company has strong profitability, sustainable development and operational capacity; low-scoring company has weak profitability and poor ability of sustainable development; solvency doesn't affect the company's financial competitiveness obviously.
The Study of Chinese Real Estate Enterprises Issuing Perpetual Bonds Financing: Advantage and Risk  [PDF]
Yao Jin
American Journal of Industrial and Business Management (AJIBM) , 2014, DOI: 10.4236/ajibm.2014.412076
Abstract: In recent years, with the regulation of national policy, Chinese real estate market has been rapidly cooling, and real estate enterprises also have difficulties in financing. Perpetual bonds as a historic mezzanine financial instrument abroad was formally introduced into China in 2013 and its own characteristics can satisfy the current needs of the real estate enterprises. This paper analyzes the plight of the real estate market and real estate financing under the current environment, discusses the issue of perpetual debt financing, and analyzes the advantages and risks of issuing perpetual bonds in multiple aspects.
Financial Bubbles, Real Estate bubbles, Derivative Bubbles, and the Financial and Economic Crisis  [PDF]
Didier Sornette,Ryan Woodard
Quantitative Finance , 2009, DOI: 10.1007/978-4-431-53853-0_6
Abstract: The financial crisis of 2008, which started with an initially well-defined epicenter focused on mortgage backed securities (MBS), has been cascading into a global economic recession, whose increasing severity and uncertain duration has led and is continuing to lead to massive losses and damage for billions of people. Heavy central bank interventions and government spending programs have been launched worldwide and especially in the USA and Europe, with the hope to unfreeze credit and boltster consumption. Here, we present evidence and articulate a general framework that allows one to diagnose the fundamental cause of the unfolding financial and economic crisis: the accumulation of several bubbles and their interplay and mutual reinforcement has led to an illusion of a "perpetual money machine" allowing financial institutions to extract wealth from an unsustainable artificial process. Taking stock of this diagnostic, we conclude that many of the interventions to address the so-called liquidity crisis and to encourage more consumption are ill-advised and even dangerous, given that precautionary reserves were not accumulated in the "good times" but that huge liabilities were. The most "interesting" present times constitute unique opportunities but also great challenges, for which we offer a few recommendations.
The Transmission Channels between Financial Sector and Real Economy in Light of the Current Financial Crisis a Critical Survey of the Literature  [PDF]
Georgios L. Vousinas
Modern Economy (ME) , 2013, DOI: 10.4236/me.2013.44028
Abstract:

The present study undertakes a critical review of the research around the major issue of the transmission channels between financial sector and real economy. The aim of the study is to shed light on the interaction between the financial system and the economy, in the shadow of the current crisis. The literature documents the importance of these channels in the determination of economic activity and therefore, real economy as a whole. The study highlights the emergence of the liquidity channel as a key factor of the transmission of bank credit shocks to real economy and underlines the existing “regulation gaps”. The paper concludes that the financial sector plays an even more crucial role these days and drastic measures along with intense supervision must be undertaken so as to work properly and serve the economic world.

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