DocumentCode :
3091193
Title :
Risk of commercial real estate: A review of literature
Author :
Li Ye ; Chen Liwen
Author_Institution :
Sch. of Manage., Hebei Univ. of Technol., Tianjin, China
fYear :
2013
fDate :
17-19 July 2013
Firstpage :
499
Lastpage :
504
Abstract :
In recent years, there have been many theoretical and empirical researches on commercial real estate. Based on the contents and related theories, we review the research scope, main contents and methods about risk management of commercial real estate. Research scope includes macro study on risks of real estate industry and micro study on risks of enterprises and projects. Research contents mainly concentrate on issues of systematic and idiosyncratic systems, factors affecting risks of commercial real estates, the representative of REITs, diversifying and hedging commercial real estate. Four main methods are used widely, which are CAMP method and its evolution, Value at Risk, Real Options Approach and ARCH approach series. In conclusion, we bring about in-depth study focusing on the systemic risk, idiosyncratic and dynamic correlation of commercial real estate in special industries which may contribute to the theoretical study and the practice on risk management of commercial real estate in China´s institutional environment in the future.
Keywords :
autoregressive processes; construction industry; property market; risk management; ARCH approach series; CAMP method; REITs; commercial real estate; idiosyncratic system; real estate industry; real options approach; risk management; systematic system; value at risk; Correlation; Economic indicators; Industries; Investment; Portfolios; Risk management; Systematics; REITs; commercial real estate; derivative; risk;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Service Systems and Service Management (ICSSSM), 2013 10th International Conference on
Conference_Location :
Hong Kong
Print_ISBN :
978-1-4673-4434-0
Type :
conf
DOI :
10.1109/ICSSSM.2013.6602568
Filename :
6602568
Link To Document :
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