Performance of property listed companies in Malaysia: 1996-2007
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 s...
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| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2011
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| Subjects: | |
| Online Access: | http://repo.uum.edu.my/3721/1/Nu.pdf http://repo.uum.edu.my/3721/ http://www.wbiconpro.com/319-Nur.pdf |
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| Summary: | 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. |
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