TOTAL FACTOR PRODUCTIVITY CHANGE IN THE REIT INDUSTRY: THE CASE OF MALAYSIAN REITS DURING AND POST GLOBAL FINANCIAL CRISIS
| العنوان: | TOTAL FACTOR PRODUCTIVITY CHANGE IN THE REIT INDUSTRY: THE CASE OF MALAYSIAN REITS DURING AND POST GLOBAL FINANCIAL CRISIS |
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| المؤلفون: | Nor Nazihah Chuweni, Ihsan Isik, Andrea Blake |
| المصدر: | PLANNING MALAYSIA JOURNAL. 17 |
| بيانات النشر: | Malaysian Institute of Planners, 2019. |
| سنة النشر: | 2019 |
| مصطلحات موضوعية: | Urban Studies, Geography, Planning and Development |
| الوصف: | The paper examined productivity changes for the Malaysian Real Estate Investment Trust (M-REITs) using a non-parametric approach of Malmquist Productivity Index (MPI) of Data Envelopment Analysis (MPI-DEA). Data was attained from M-REIT annual reports, Thomson Reuters Datastream and Osiris via Bureau Van Dijk for 2007-2015. The non-parametric approach of MPI-DEA examined the Total Factor Productivity Change (TFPCH), Technological Change (TECHCH), Efficiency Change (EFFCH), Pure Technical Efficiency Change (PEFFCH) and Scale Efficiency Change (SECH) indices. On average, the M-REIT industry has faced 14.91% of productivity regress during 2007-2015 period, comprising 49.90% of efficiency increase and 33.40% technological regress. The decomposition of the productivity change index suggests that Malaysian REIT productivity changes were mainly due to efficiency change rather than technological change. These findings could help M-REIT managers to formulate ways to enhance their REIT productivity. The findings are also applicable tosimilar Shariah compliant real estate investment or socially responsible investment. |
| تدمد: | 0128-0945 1675-6215 2007-2015 |
| DOI: | 10.21837/pmjournal.v17.i9.594 |
| URL الوصول: | https://explore.openaire.eu/search/publication?articleId=doi_________::d9634184458e168e57d986da4c5883ed https://doi.org/10.21837/pmjournal.v17.i9.594 |
| Rights: | OPEN |
| رقم الانضمام: | edsair.doi...........d9634184458e168e57d986da4c5883ed |
| قاعدة البيانات: | OpenAIRE |
| تدمد: | 01280945 16756215 20072015 |
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| DOI: | 10.21837/pmjournal.v17.i9.594 |