IDEAS home Printed from https://ideas.repec.org/a/vrs/remava/v24y2016i4p23-34n3.html
   My bibliography  Save this article

Rates of Return on Shares of Real Estate Development Companies in Poland in the Years 2001-2015. A Comparative Analysis

Author

Listed:
  • Dittmann Iwona

    (Faculty of Finance, University of Economics in Wrocław)

Abstract

The paper presents an analysis of the diversity of real estate development companies listed on the Warsaw Stock Exchange based on the rates of return on their shares which were attained in 2001-2015. The study included 10 real estate development companies. The analysis was conducted for different investment horizons (from 1 year to 10 years), and based on the quartiles of the empirical distributions of the rates of return on the shares of individual companies. The empirical distributions were obtained using a rolling window of observation based on daily share quotation. The diversity of the funds was examined by formulating six hypotheses concerning: the diversity of the quartiles of the distributions of returns on individual funds, the differences between the values of the quartiles of returns for the best and worst companies during each investment horizon, changes in the value of individual quartiles of returns for individual companies along with a lengthening of the investment horizon, differences in the positions of the companies in the rankings of companies based on different investment horizons and having different quartiles being accepted as the criterion for the rankings. The results obtained did not indicate grounds for the rejection of the formulated hypotheses.

Suggested Citation

  • Dittmann Iwona, 2016. "Rates of Return on Shares of Real Estate Development Companies in Poland in the Years 2001-2015. A Comparative Analysis," Real Estate Management and Valuation, Sciendo, vol. 24(4), pages 23-34, December.
    • Handle: RePEc:vrs:remava:v:24:y:2016:i:4:p:23-34:n:3
    DOI: 10.1515/remav-2016-0027
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/remav-2016-0027
    Download Restriction: no
    File URL: https://libkey.io/10.1515/remav-2016-0027?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Martin Haran & Michael McCord & Peadar Davis & John McCord & Colm Lauder & Graeme Newell, 2016. "European emerging real estate markets," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 34(1), pages 27-50, February.
    2. Jianfu Shen & Xianting Yin, 2016. "Credit expansion, state ownership and capital structure of Chinese real estate companies," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 34(3), pages 263-275, April.
    3. Norman Hutchison & Graham Squires & Alastair Adair & Jim Berry & Daniel Lo & Stanley McGreal & Sam Organ, 2016. "Financing infrastructure development: time to unshackle the bonds?," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 34(3), pages 208-224, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Squires, Graham & Hutchison, Norman, 2021. "Barriers to affordable housing on brownfield sites," Land Use Policy, Elsevier, vol. 102(C).
    2. Taderera, Marimo & Akinsomi, Omokolade, 2020. "Is commercial real estate a good hedge against inflation? Evidence from South Africa," Research in International Business and Finance, Elsevier, vol. 51(C).
    3. Radoslaw Wolniak & Marcin Olkiewicz & Marta Szymczewska & Anna Olkiewicz, 2020. "The Functioning of the Real Estate Market: Dynamics of Price Formation and the Sale of Apartments," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 281-307.
    4. Anna Olkiewicz & Radosław Wolniak & Marcin Olkiewicz & Martyna Szymczewska, 2020. "The Impact of Professional and Economic Activity on the Development of Apartments Market," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 404-418.

    More about this item

    Keywords

    real estate development companies; shares; returns; comparative analysis; Poland;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:remava:v:24:y:2016:i:4:p:23-34:n:3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.