The subprime crisis has largely brought out uncertainty of financial actors in the real estate sector. In this context, we try to apprehend the performance of these specific SIICs investment vehicles related to financial, economic and managerial influences, by quantifying their stock performance in a five-year time frame…
Contents
Chapter I – Introduction
1.1. Background
1.2. Problem Identification
1.3. Purpose and Hypotheses
1.4. Limitations of Research: Caveat and Criticism
1.5. Thesis Outline
Chapter II – Characteristics of SIICs (equivalent of REITs)
2.1. REITs Definition
2.2. Comparison of French SIICs and US REITs Requirements
2.3. French SIICs’ Strategies
2.4. Equity REITs’ Classification
Chapter III – Theoretical Frame and Major Influences
3.1. Financial Theories
3.1.1. Modern Portfolio Theory and Single-Factor Model
3.1.2. Modern Portfolio Theory and Multifactor Model
3.2. Economics Theories
3.2.1. Differentiation between Macro- and Microeconomics
3.2.2. Macroeconomic Factors and Real Estate Market
3.2.3. Microeconomic Factors and Real Estate Market
3.3. Managerial Theories
3.3.1. Portfolio Management Theory
3.3.2. Financial and Economic Behaviour
3.3.3. Type of Management and Competences
3.3.4. Confidence and Economic Sentiment Investor
Chapter IV – Methodological Considerations
4.1. Scientific Point of Departure
4.1.1. Business Research Strategy
4.1.2. Research Design
4.1.3. Choices of the Sources
4.2. Data Selection Process
4.2.1. Stocks’ Selection
4.2.2. Indices’ Selection
4.2.3. Factors’ Extraction
4.3. Specifications of the Regression Model
4.3.1. Determination of Beta from the CAPM Model
4.3.2. The Multifactor Model
4.3.3. Presentation of the Dataset in Descriptive Statistics
Chapter V – Empirical Findings
5.1. Overview of SIICs’ Performance
5.2. Overview of the Hypotheses
5.2.1. Hypothesis 1: Some Categories of SIICs Generate Superior Performance than Others
5.2.2. Hypothesis 2: Some Economic Factors Affect the SIICs’ Performance
5.2.3. Hypothesis 3: Economic Confidence Index Captures the Behaviour of Investors
Chapter VI – Analysis
6.1. Hypothesis 1: Some Categories in SIICs Generate Superior Performance than Others
6.2. Hypothesis 2: Some Economic Factors Affect the SIICs’ Performance
6.3. Hypothesis 3: Economic Confidence Index Captures the Behaviour of Investors…
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Author: Chane-Teng, Xavier,Manni, Cecile
Source: Umea University
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