@article{ART001507482},
author={Jung, Wan Sung},
title={An Empirical Study on the Relationships Between Corporate Real Estate Ownership and the Price Book Value Ratio},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2010},
volume={20},
number={2},
pages={65-89}
TY - JOUR
AU - Jung, Wan Sung
TI - An Empirical Study on the Relationships Between Corporate Real Estate Ownership and the Price Book Value Ratio
JO - Korea Real Estate Review
PY - 2010
VL - 20
IS - 2
PB - korea real estate research institute
SP - 65
EP - 89
SN - 2092-5395
AB - The purpose of this study is to investigate the effects of corporate real estate holding ratio on price book value ratio in Korea between the years 1999-2008. In addition, this study examines different impact of corporate real estate holding ratio on firm value in various industry sectors. Goal in this study is to find out corporate real estate holding strategy in industry sectors. This empirical analysis is based on data from KISVALUE III. Dataset comprises 1,101 firms during 1999-2008. This empirical analysis is carried out in order to find out influence of corporate real estate holding ratio by selecting variables such as PBR, firm size, leverage, market and industry dummy. Results of this empirical work is carried out by using Multiple Regression Analysis and Chow test. We discover a generally negative relationship between real estate holding and price book value ratio, but this impact is differently appeared in various industry sectors. In the Chow test and dummy variable test, The data are divided into two periods by 1999 to 2003 and 2004 to 2008. And the test is applied to PBR using the real estate holding ratio as explanatory variable. The result of Chow test shows that there exists a structural change between the regression models.
KW - Corporate real estate;Real estate holding;Price book value ratio
DO -
UR -
ER -
Jung, Wan Sung. (2010). An Empirical Study on the Relationships Between Corporate Real Estate Ownership and the Price Book Value Ratio. Korea Real Estate Review, 20(2), 65-89.
Jung, Wan Sung. 2010, "An Empirical Study on the Relationships Between Corporate Real Estate Ownership and the Price Book Value Ratio", Korea Real Estate Review, vol.20, no.2 pp.65-89.
Jung, Wan Sung "An Empirical Study on the Relationships Between Corporate Real Estate Ownership and the Price Book Value Ratio" Korea Real Estate Review 20.2 pp.65-89 (2010) : 65.
Jung, Wan Sung. An Empirical Study on the Relationships Between Corporate Real Estate Ownership and the Price Book Value Ratio. 2010; 20(2), 65-89.
Jung, Wan Sung. "An Empirical Study on the Relationships Between Corporate Real Estate Ownership and the Price Book Value Ratio" Korea Real Estate Review 20, no.2 (2010) : 65-89.
Jung, Wan Sung. An Empirical Study on the Relationships Between Corporate Real Estate Ownership and the Price Book Value Ratio. Korea Real Estate Review, 20(2), 65-89.
Jung, Wan Sung. An Empirical Study on the Relationships Between Corporate Real Estate Ownership and the Price Book Value Ratio. Korea Real Estate Review. 2010; 20(2) 65-89.
Jung, Wan Sung. An Empirical Study on the Relationships Between Corporate Real Estate Ownership and the Price Book Value Ratio. 2010; 20(2), 65-89.
Jung, Wan Sung. "An Empirical Study on the Relationships Between Corporate Real Estate Ownership and the Price Book Value Ratio" Korea Real Estate Review 20, no.2 (2010) : 65-89.
