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Behaviours of property investors: an investigation on the risk perceptions of Australian property fund managers

Lee, Chyi Lin., Reed, Richard and Robinson, Jon 2008, Behaviours of property investors: an investigation on the risk perceptions of Australian property fund managers, in PRRES 2008 : Investing in Sustainable Real Estate Environment: Proceedings of the 14th Annual Conference of the Pacific Rim Real Estate Society, Pacific Rim Real Estate Society, [Kuala Lumpur, Malaysia], pp. 1-24.

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Title Behaviours of property investors: an investigation on the risk perceptions of Australian property fund managers
Author(s) Lee, Chyi Lin.
Reed, Richard
Robinson, Jon
Conference name Pacific Rim Real Estate Society. Conference (14th : 2008: Kuala Lumpur, Malaysia)
Conference location Kuala Lumpur, Malaysia
Conference dates January 20-23 2008
Title of proceedings PRRES 2008 : Investing in Sustainable Real Estate Environment: Proceedings of the 14th Annual Conference of the Pacific Rim Real Estate Society
Editor(s) [Unknown]
Publication date 2008
Conference series Pacific Rim Real Estate Society Conference
Start page 1
End page 24
Total pages 24
Publisher Pacific Rim Real Estate Society
Place of publication [Kuala Lumpur, Malaysia]
Keyword(s) Australian property funds
downside risk
investors' behaviours
property investors and risk perceptions
Summary Recent finance and real estate empirical and analytical studies have demonstrated that downside risk appears as an intuitively appealing risk measure in which it is more consistent with investors' behaviours. Conversely, qualitative studies into the behaviours of investors, particularly real estate investors, have been relatively limited. This study seeks to address this shortfall and aims to examine the behaviours of property fund managers towards downside risk. A survey was conducted in order 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 in the property funds industry in Australia 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 downside risk.
Language eng
Field of Research 150201 Finance
Socio Economic Objective 970115 Expanding Knowledge in Commerce, Management, Tourism and Services
HERDC Research category E1 Full written paper - refereed
HERDC collection year 2008
Copyright notice ©2008, Pacific Rim Real Estate Society
Persistent URL http://hdl.handle.net/10536/DRO/DU:30018119

Document type: Conference Paper
Collections: School of Architecture and Built Environment
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Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.