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An investigation on the risk perceptions of Australian property fund Managers

Lee, Chyi Lin, Reed, Richard and Robinson, Jon 2008, An investigation on the risk perceptions of Australian property fund Managers, Pacific rim property research journal, vol. 14, no. 2, pp. 199-221.

Document type: Journal Article
Collections: School of Architecture and Built Environment
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Title An investigation on the risk perceptions of Australian property fund Managers
Author(s) Lee, Chyi Lin
Reed, Richard
Robinson, Jon
Journal name Pacific rim property research journal
Volume number 14
Issue number 2
Start page 199
End page 221
Publisher Pacific Rim Real Estate Society
Place of publication Sydney, N.S.W.
Publication date 2008-06
ISSN 1444-5921
Keyword(s) Australian property funds
property investors
downside risk
risk perceptions
Summary Recent empirical and analytical studies have demonstrated that downside risk appears as an intuitively appealing risk measure in which it is more consistent with investors’ behaviour. Conversely, qualitative studies into the behaviour of investors, particularly real estate investors, have been relatively limited. This study seeks to address this shortfall and aims to examine the perceptions of property fund managers towards risk. A survey was conducted to investigate the risk perceptions of property fund managers and determine whether they only require compensation for bearing with higher downside risk. The acceptance level of downside risk is also examined. The findings reveal that downside risk is more consistent with how investors individually perceive risk. However, there is also a gap between theoretical assertions and practice in which downside risk is not commonly used in the practice. The results give an insight into the knowledge base of property investors towards risk, particularly downside risk.
Language eng
Field of Research 150201 Finance
Socio Economic Objective 970115 Expanding Knowledge in Commerce, Management, Tourism and Services
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2008
Copyright notice ©2008, Pacific Rim Real Estate Society
Persistent URL http://hdl.handle.net/10536/DRO/DU:30017539
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