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International Portfolio of Real Estate Investment and Hedging: A Revisit
Archives of Business Research
View Archive Info| Field | Value | |
| Title |
International Portfolio of Real Estate Investment and Hedging: A Revisit
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| Creator |
Addae-Dapaah, Kwame
Sugumaran, Mathan |
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| Subject |
—
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| Description |
We use office data from ten cities in the Asia-Pacific region from 4Q2001 to 2Q2012 to propose a forward-looking investment appraisal framework to compare the effectiveness of two currency risk hedging strategies for a portfolio of real estate investments in ten cities of seven Asia-Pacific countries. This is aimed at determining the optimal choice among “unhedged”, “artificially” hedged and “natural” hedged options. Analyses based on NPV, IRR, Sharpe Ratio, Jensen’s alpha and stochastic dominance were done for 3, 5 and 7-year holding periods. All the results show that the “natural” hedge strategy is the optimal choice as it provides superior returns.
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| Publisher |
Archives of Business Research
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| Contributor |
—
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| Date |
2017-04-26
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://www.scholarpublishing.org/index.php/ABR/article/view/3100
10.14738/abr.54.3100 |
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| Source |
Archives of Business Research; Vol 5, No 4 (2017): Archives of Business Research
2054-7404 10.14738/abr.54.2017 |
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| Language |
eng
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| Relation |
http://www.scholarpublishing.org/index.php/ABR/article/view/3100/1790
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| Rights |
Copyright (c) 2017 Archives of Business Research
http://creativecommons.org/licenses/by/4.0 |
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