scholarly journals The Impact of Stock Price and Real Estate Price Shocks on Consumption: The Thai Experience

2014 ◽  
Vol 6 (1) ◽  
Author(s):  
Dalina Amonhaemanon
Author(s):  
William Choo Keng Soon Et.al

The formation of Islamic capital market under the subcomponent of Islamic financial system scratch a milestones development of Islamic finance in Malaysia. The Islamic capital market operates in mirror with convention capital market in expending, deepening and broadening Malaysia financial system. Malaysia is one of the REIT markets that value both the Islamic and conventional practices, such flexibility makes the attract not only to the local investor but also Islamic investors and foreign investor. The major source that generates income for REIT is the rental of the commercial real estate invested and hold as portfolio by the REIT management company. Furthermore, Malaysia REIT is known to be defensive stocks which consist of cyclic income producing assets that has some potential of asset appreciation. On the other hand, it witnessed by the moderation of Malaysia government bond yields created a lower pressure on the REIT stock price and analyst’s report highlighted the uncertainties on global crude oil prices and inflation is main concerned to REIT investors. In addition, the revision of 2019 tax system in Malaysia furnished a long run affected the dividend payout and volatility of REIT stock price. Therefore, this impact on the REIT stock liquidity and trading volume experiencing anil liquid trading. Therefore, the impact of external forces towards the mirror of two type of Malaysia REITs is significant to the investors, policy makers and government to outline the short-run relationship and facilitate future growth. The Vector auto regression model, granger causality and variance decomposition employed in this study to analyze the mirror of two types Malaysia REIT stock return. The empirical finding shows that the variability of dividend yield is vital explanatory variables to explain the both type of REIT stock return in Malaysia followed by interest rate for Islamic REIT stock return. The mirror of conventional REIT further implicated that trading volume and global crude oil price are useful to forecasting the changes in the stock return. Nutshell, this study provides a discussion of Malaysia REIT stock return behavior and it should be given necessary attention by researchers in ensuring the newly develop Islamic REIT are competitive and stability as the conventional REIT.


2011 ◽  
Vol 117-119 ◽  
pp. 1547-1551
Author(s):  
Xi Li Tan ◽  
Han Zhou ◽  
Ying Song Xu

Real estate price has been one of the hottest discussion topics, especially in recent years, it becomes the focus of attention. In this paper, we aim to study the impact of economic factors on real estate price. By multiple linear regression model and SPSS software, we analyze four economic indicators affecting the real estate price of Jilin city, and make some amendments and testings, the conclusions show the consumption level and housing construction area are important factors affecting the price trend. On this basis, we further to give the corresponding countermeasures and suggestions.


2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Qing Liu

At this stage, broadening the consumer market, upgrading the consumption system and gradually establishing a consumption-led development concept are key factors in promoting high-quality economic development. At the same time, China's macro economy is also experiencing another test. The rapid development of China's real estate market in recent years has attracted a large number of investors, and real estate prices have produced irrational and substantial increases. Behind the boom of the real estate market is a social system crisis driven by profiteering and the growing seriousness of real estate financial bubble. So exploring the mechanism of the influence of real estate prices on the upgrading of residents' consumption is important for the current stage of China. Therefore, it is important to investigate the mechanism of real estate price impact on consumer upgrading for the coordinated development of real estate industry and national economy. In this paper, we analyze and examine the theory on the consumption improvement by the literature survey method. We also summarize the present research on the correlation and the influence mechanism of the real estate price and the consumption improvement and choose the index which reflects the present state of the real estate industry and the consumption of the inhabitant. Besides the input indicators that qualitatively manage the impact of housing prices on the improvement of residents' consumption, we first use the descriptive statistics method to understand the level of the Chinese real estate market and improve consumer spending. Based on this, the descriptive statistical method is applied to define the current state of China's real estate market and the level of improvement in consumption, and to define the standard for improving consumption in China. On the other hand, based on the spatial and spatial spillover points of view, we use spatial analysis framework combined with exploratory spatial data analysis and GIS to investigate spatial correlation between consumption structure and housing price, and accurately reflect the spatial clustering status of the index by drawing. Moran dispersion plot and Lisa cluster plot, then the spatial Darwinian model, are used to investigate the impact of real estate prices on the increase in occupant consumption from a macro perspective.


2003 ◽  
Vol 31 (2) ◽  
pp. 269-303 ◽  
Author(s):  
Jeffrey Fisher ◽  
Dean Gatzlaff ◽  
David Geltner ◽  
Donald Haurin

2018 ◽  
Vol 10 (7) ◽  
pp. 38
Author(s):  
Min Tan ◽  
Yajie Bai

This paper investigates the impact of demographic structure, especially gender and marital status, on the price of regional real estate. This paper utilizes controlled-heteroskedasticity fixed-effect model for the empirical tests based on a panel data set of 30 Chinese provinces from 2011 to 2015. Empirical results show that the gender ratio in the provincial panel data does have a significant negative impact on the regional real estate prices, which implies that when the number of women in a region increases, the real estate price in this region tends to rise. The impact of marital status on the real estate price is not significant according to empirical results.


Author(s):  
Nguyen Van Binh ◽  
Ho Nhat Linh ◽  
Tran Thi Anh Tuyet

This study focuses on determining the impact of factors on property prices in Hue city, Thua Thien Hue province. The study used quantitative and qualitative analysis in SPSS to statistically characterize the investigated subjects; using Likert scale with five levels and regression method to evaluate the influences of relevant factors on real estate; surveying 115 samples in 03 wards of An Tay, An Cuu and An Dong of Hue city. The results showed that, 6 factors affecting real estate prices were identified, including: (i) Location, (ii) Topographic and shape, (iii) Legal, (iv) Social factors, (v) Infrastructure and (vi) Environment. The impact level of 6 factors on real estate prices are: Environment (0.416), Terrain (0.408), Location (0.225), Infrastructure (0.197), Legal (0.195) and Social factors (0.120). For factors affecting real estate prices, depending on the type of street that the factors affecting real estate prices have different roles. For streets with good business potential, the important factor is that the location of the land plot provides high profitability and stability leading to high buyer demand, followed by parcel shape factors, infrastructure conditions, living environment. The main purpose of a street to build houses is the natural environment, social factors, infrastructure, followed by shape and area. Among the 3 surveyed wards, An Cuu ward had the highest real estate price; followed by An Dong and An Tay wards.


2014 ◽  
Vol 4 (1) ◽  
pp. 33-42 ◽  
Author(s):  
Menggen Chen

Researchers pay more and more attention on the price comovement-effect among international stock markets. This paper deals with the transmission mechanism of price shocks among three stock markets of China, Russia and India, with a sample of weekly returns. The results showed that the price fluctuation of each market has an influence on other markets, although the price behavior is significantly independent. The impact of external price innovations will last 5 or 6 weeks usually and disappear after about 8 weeks. The pattern of transmission-mechanism for the price shocks is very different from each other. Besides, a further study revealed that the influence of external shocks on the domestic stock price increased significantly among the three markets after the 2008 international financial crisis.


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