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Performance of property listed companies in Malaysia: 1996-2007


Abdullah, Nur Adiana Hiau and Wan Zahari, Wan Marazah (2011) Performance of property listed companies in Malaysia: 1996-2007. In: Global Business and Social Sciences Research Conference, 20 - 21 June 2011, Radisson Blue Hotel, Beijing, China. (Unpublished)

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Abstract

This study examines the performance of listed property companies in Malaysia within three sub-periods: pre-crisis, during crisis and post-crisis. The period of study is from 1996 to 2007.By using Sharpe Index, Adjusted Sharpe Index, Treynor Index, Jensen Index and Adjusted Jensen Index, the result shows that the performance of listed property companies over-performed the aggregate market (Kuala Lumpur Composite Index-KLCI) and the Kuala Lumpur Property Index (KLPI). Further examination on the performance of the property companies in the three sub-periods shows there was a significant difference in the performance of the property listed companies as compared to the KLCI and KLPI before, during and after the 1997 financial crisis.An obvious observation in the result is that most of the companies listed under property sector as well as the aggregate market as a whole and the property index were showing an average negative return. This would mean that investors and fund managers would need to take extra caution to include property stocks in their portfolio.As for the regulators, more efforts needed to be done to boost this sector.

Item Type: Conference or Workshop Item (Paper)
Additional Information: JEL Classification: G11
Subjects: H Social Sciences > HG Finance
Divisions: School of Economics, Finance & Banking
Depositing User: Prof. Dr. Nur Adiana Hiau Abdullah
Date Deposited: 24 Oct 2011 02:26
Last Modified: 21 Apr 2016 07:12
URI: http://repo.uum.edu.my/id/eprint/3721

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