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完整後設資料紀錄
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.advisor | 謝德宗(Der-Tzon Hsieh) | |
dc.contributor.author | Jui-Fu Sung | en |
dc.contributor.author | 宋瑞夫 | zh_TW |
dc.date.accessioned | 2021-06-16T08:05:33Z | - |
dc.date.available | 2024-06-24 | |
dc.date.copyright | 2014-07-08 | |
dc.date.issued | 2014 | |
dc.date.submitted | 2014-06-24 | |
dc.identifier.citation | 中文文獻
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dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/58077 | - |
dc.description.abstract | 本研究以分析REITs績效為主軸,使用多元迴歸分析、向量自我迴歸模型分析與縱列數據分析,研究包含信義指數、外資佔台股比率、通貨膨脹率、台幣美元匯率、台股指數報酬率與股利殖利率對REITs報酬率的影響。
本研究結果顯示信義指數對REITs報酬率有顯著的正面影響,這表示若礙於流動性、投資門檻等因素而無法投資傳統房地產,投資REITs是可行的選擇。再者,若想規避通貨膨脹風險,台灣集中市場交易的REITs並非好選擇。此外,外資即便看好台北房市,不會從REITs著手,而是藉由投資實體房地產獲取報酬。最後,台股指數報酬率與REITs報酬率之間的關係,顯示台灣REITs在多元化投資組合上,可能有相當好的功效。 | zh_TW |
dc.description.abstract | This study provides an analysis of determinants of the performance for Real Estate Investment Trusts issued in Taiwan by utilizing multiple regression analysis, vector autoregression analysis and panel data analysis. The variables examined in the analysis include Sinyi Index, the percentage of shares held by foreign capital, the inflation rate, the exchange rate between USD and TWD, the rate of return of TAIEX Total Return Index, and the dividend yield.
The research results suggest that investing in REITs can be a substitution of investing in real estate while focusing on rate of return. However, it is found that REITs issued in Taiwan cannot play the same role as traditional real estate investments while hedging against inflation. Besides that, only two of the REITs are affected significantly by foreign capital investment. This shows that the foreign capital tends to get the return by investing in real estate rather than REITs. Last but not least, the correlation between the rate of return of TAIEX Total Return Index and the rate of return of REITs implies that investing in REITs can be useful in diversifying the portfolio in Taiwan. | en |
dc.description.provenance | Made available in DSpace on 2021-06-16T08:05:33Z (GMT). No. of bitstreams: 1 ntu-103-R01323060-1.pdf: 479840 bytes, checksum: 19d438015346d51fbf9ca0c376ef2a09 (MD5) Previous issue date: 2014 | en |
dc.description.tableofcontents | 誌謝 i
中文摘要 ii 英文摘要iii 第一章 導論 1 1.1 研究背景與動機 1 1.2 研究目的 3 1.3 研究架構 4 第二章 現況說明與文獻回顧 6 2.1 不動產投資信託交易現況 6 2.2 不動產證券化相關文獻回顧 9 第三章 研究方法 13 3.1 實證模型建立 13 3.2 研究樣本 17 3.3 變數選取與說明 21 第四章 實證結果分析 24 4.1 單根檢定結果 24 4.2 多元迴歸模型分析結果 25 4.3 向量自我迴歸模型分析結果 35 4.4 多元迴歸模型分析結果(納入解釋變數落後項) 39 4.5 縱列數據分析結果 41 第五章 結論與建議 43 5.1 研究結論 43 5.2 研究限制 44 5.3 研究建議 44 參考文獻 46 | |
dc.language.iso | zh-TW | |
dc.title | 台灣不動產投資信託商品績效決定因素之分析 | zh_TW |
dc.title | Determinants of the Performance Analysis for Taiwan REITs | en |
dc.type | Thesis | |
dc.date.schoolyear | 102-2 | |
dc.description.degree | 碩士 | |
dc.contributor.oralexamcommittee | 李顯峰,羅光達 | |
dc.subject.keyword | 不動產投資信託,多元迴歸分析,向量自我迴歸模型分析,縱列數據分析,績效分析, | zh_TW |
dc.subject.keyword | Real Estate Investment Trusts,multiple regression analysis,vector autoregression analysis,panel data analysis,performance analysis, | en |
dc.relation.page | 48 | |
dc.rights.note | 有償授權 | |
dc.date.accepted | 2014-06-25 | |
dc.contributor.author-college | 社會科學院 | zh_TW |
dc.contributor.author-dept | 經濟學研究所 | zh_TW |
顯示於系所單位: | 經濟學系 |
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