How Did COVID-19 Affect the Chinese Real Estate Stock Market: An  Empirical Research

<p>COVID-19 has brought disruptions to various industries in China. The real estate industry can’t remain immune from the shock as well, which can be presented by the performance of real estate stocks. This study investigates the effects of COVID-19 on the Chinese real estate stocks. Statistical methods, such as OLS regression, are used to explore the effects of new cases, new deaths, new recoveries, bad and good news about COVID-19 of provinces where the headquarters of the sample companies lie on the daily stock returns as well as the changes of volatilities before and after COVID-19. Event study is employed to discover the effects of important events during COVID-19. Results suggest that positive information about COVID-19 significantly increased daily stock returns of the listed real estate company in that province. Total risk and idiosyncratic risk of real estate stocks have increased significantly since COVID-19, while systematic risk has decreased significantly. Among the crucial events during the pandemic, the lockdown of Wuhan significantly caused negative abnormal returns for real estate stocks.</p>

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COVID-19’s Impacts on the Kuwaiti Stock Market’s Performance

International Journal of Business and Management ◽

10.5539/ijbm.v16n5p122 ◽

2021 ◽

Vol 16 (5) ◽

pp. 122

Author(s):

Ahmad Al-Kandari ◽

Kholoud Al-Roumi ◽

Meshal K. AlRoomy

Keyword(s):

Real Estate ◽

Stock Returns ◽

Event Study ◽

Consumer Goods ◽

Abnormal Returns ◽

Consumer Services ◽

Study Methodology ◽

Daily Stock Returns ◽

The Impact ◽

Event Study Methodology

This study investigates the impact of COVID-19 pandemic on daily stock returns in Kuwait Stock Market (KSE) over the period from 28 March to 20 April 2020. By applying the event study methodology (ESM) approach, the results reveal that the pandemic has positively impacted stocks of banks, consumer goods and telecommunications sectors. However, oil & gas, real estate, financial, basic materials, industrials, consumer services, and insurance stocks have been negatively impacted by the pandemic. The COVID-19 pandemic's most negatively affected are services and financial stocks. The cumulative average abnormal returns (CAAR) of all sectors were affected negatively by the COVID-19 pandemic.

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Research on the Transformation of Real Estate Enterprises’ Asset-light Operation Mode—Take Vanke as an Example

Journal of Business Theory and Practice ◽

10.22158/jbtp.v8n4p57 ◽

2020 ◽

Vol 8 (4) ◽

pp. p57

Author(s):

Xu Hongye ◽

Chang Huan

Keyword(s):

Real Estate ◽

Operation Mode ◽

Real Estate Industry ◽

Operating Model ◽

The Real ◽

The Real Estate ◽

Real Estate Enterprises ◽

Financing Channels ◽

Financing Costs ◽

Before And After

Chinese the real estate industry has experienced more than 20 years of prosperity. The traditional operating model has brought huge profits to real estate companies under the specific economic environment and reform dividends. However, in the context of the continuous upgrade of macro-control in the real estate industry, real estate companies have narrowed their financing channels, and the pressure on funds has generally increased. They are facing an urgent need to expand financing channels, reduce financing costs, and maintain stable cash flow. In this context, it is increasingly important for real estate companies to transform their asset-light operation model. Therefore, this article will analyze the concept of light assets and the characteristics of light asset operation models, and take Vanke as an example to analyze the changes in Vanke’s financial performance before and after the transformation, and put forward relevant suggestions to provide references for real estate companies to transform asset-light operation mode.

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Eastern Housing Limited: Marketing Strategies of a Real Estate Company in Bangladesh

Vision The Journal of Business Perspective ◽

10.1177/0972262916686630 ◽

2017 ◽

Vol 21 (1) ◽

pp. 86-92

Author(s):

Jashim Uddin Ahmed ◽

Hafiza Sultana ◽

Anisur R. Faroque

Keyword(s):

Real Estate ◽

Product Line ◽

Marketing Strategies ◽

Customer Relationship ◽

Target Market ◽

Competitive Advantages ◽

Real Estate Industry ◽

The Real Estate ◽

Fierce Competition ◽

Real Estate Company

The case study investigates the key competitive advantages, marketing strategies, opportunities and challenges of Eastern Housing Limited (EHL), the oldest and largest company in the real estate industry of Bangladesh. EHL was created in 1964 as a private limited company to reduce the housing problems of Dhaka, Bangladesh. Over the last 50 years, EHL has successfully completed many large land and flat projects and gradually became the pioneer in the private housing industry of the country. The company strives for continuous improvement by focusing on marketing strategies, such as shifting its product line and target market, offering flexible pricing and becoming more customer oriented by building long-term customer relationship. However, in recent years, the company has encountered fierce competition from other players in the market and lost monopoly leadership. The study highlights how EHL is focusing on its marketing strategies to increase its market share and carefully planning to be more aggressive in addressing the challenges lying ahead.

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Value-relevance of reported changes in fair values and measurement-related fair value disclosures: evidence from the Australian real estate industry

Asian Review of Accounting ◽

10.1108/ara-06-2021-0104 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Pinprapa Sangchan ◽

Md. Borhan Uddin Bhuiyan ◽

Ahsan Habib

Keyword(s):

Real Estate ◽

Stock Returns ◽

Financial Reporting ◽

Value Relevance ◽

Research Question ◽

Fair Value ◽

Real Estate Industry ◽

Content Type ◽

The Real Estate ◽

Financial Reporting Standards

PurposeThe paper aims to investigate the value-relevance of changes in fair values of investment property reported under International Accounting Standards (IAS) 40 and International Financial Reporting Standards (IFRS) 13.Design/methodology/approachMultivariate regression models are used to regress cumulative market-adjusted stock returns of real estate firms on changes in fair values, along with control variables and corporate governance variables, in order to examine the research question.FindingsUsing hand-collected data from the Australian Real Estate Industry (AREI), the authors find that changes in fair values of investment property are value-relevant for equity investors. The authors further find that using unobservable inputs in an active market (Level 3 inputs) does not diminish the information content of fair values. The authors document that properties valued exclusively by directors have a significantly reduced value-relevance, whereas property valuations made collectively by both directors and independent valuers have superior value-relevance, possibly owing to the combination of inside knowledge and externally imposed monitoring. Collectively, the findings suggest that in the real estate industry, where unobservable inputs are commonly used to determine fair values of properties, the fair values determined subjectively are perceived to be sufficiently informative and relevant.Research limitations/implicationsThe authors' findings have important implications for accounting standard-setters in considering whether an external valuation should be required and whether the extensive measurement-related fair value disclosure requirements are useful.Originality/valueThe study extends previous archival evidence and complements prior commentaries on experimental and analytical work in the Australian regulatory environment.

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