An Empirical Analysis of Factors Affecting REITs Investment Returns

doi:10.16716/j.cnki.65-1030/f.2015.06.001

Abstract

Abstract: Qianhai-Vanke launched the first public REITs in China opening the China's ice-breaking trip in public REITs, taking the importance of the real estate industry in the national economy structure into account, the future of REITs market must have broad prospects. However, because China has never launched REITs for a long time, investors may be unfamiliar with the factors that affect the investment return of REITs. Based on this, this paper selects part of the micro and macro factors and tests empirically how these factors affect the REITs investment returns. It was found that the return of REITs are mainly influenced by macro-economic factors, and only size factor affecting the return of REITs in micro-economic factors.

Key words: REITs, Asset Pricing, Real Estate Finance

CLC Number:

F832.5

Huang Shida. An Empirical Analysis of Factors Affecting REITs Investment Returns[J]. Finance & Economics of Xinjiang, 2015, (6): 5-14.

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