Economic performance of property companies in Hong Kong

Journal of Property Research

Volumn 24, Issue 2, 2007, Pages 139-157

  Hui, Eddie C M ^a   OOI, Joseph T L ^b   Wong, Kelvin ^c  

^a HONG KONG POLYTECHNIC UNIVERSITY   (Hong Kong)

^b NATIONAL UNIVERSITY OF SINGAPORE   (Singapore)

^c UNIVERSITY OF HONG KONG   (Hong Kong)

Author keywords

Corporate strategy; Economic value added; Hong Kong; Real estate; Singapore

Indexed keywords

CAPITAL FLOW; CAPITAL MARKET; EXCHANGE RATE; FINANCIAL SERVICES; HOMEOWNERSHIP; PERFORMANCE ASSESSMENT; PROPERTY MARKET;

ASIA; CHINA; EURASIA; FAR EAST; HONG KONG;

EID: 34547951681     PISSN: 09599916     EISSN: 14664453     Source Type: Journal    
DOI: 10.1080/09599910701440123     Document Type: Article

References (22)

1. Anctil, R. M., Jordan, J. S. and Mukherji, A. (1998) Activity-based costing for economic value added®. Review of Accounting Studies, 2:3, pp. 231-264.
2. Beneda, N. L. (2004) Value operating assets in place and computing economic value added. The CPA Journal, pp. 56-61.
3. Bowen, R. M. and Wallace, J. S. (1997) Does EVA beat earnings? Evidence on associations with stock returns and firm values. Journal of Accounting and Economics, 24:3, pp. 301-336.
4. Chan, P. K. E. (2001) Information contribution of economic value added of listed Hong Kong firms.
5. Chen, S. and Dodd, J. L. (1997) Economic value added (EVATM): An empirical examination of a new corporate performance measure. Journal of Managerial Issues, 9:3, pp. 318-333.
6. Demodaran, A. (1999) Value creation and enhancement: Back to the future. Contemporary Finance Digest, 2:4, pp. 5-52.
7. De Villiers, J. (1997) The distortions in economic value added (EVA) caused by inflation. Journal of Economics and Business, 49, pp. 285-300.
8. Edwards, E. O. and Bell, P. W. (1961) The Theory and Measurement of Business Income, University of California Press, Berkeley, CA
9. Feltham, G. A. and Ohlson, J. A. (1995) Valuation and clean surplus accounting for operating and financing activities. Contemporary Accounting Research, 11, pp. 689-731.
10. Feltham, G. A. and Ohlson, J. A. (1996) Uncertainty resolution and the theory of depreciation measurement. Journal of Accounting Research, 34, pp. 209-234.
11. Liow, K. H. and Ooi, J. T. L. (2004) Does corporate real estate create wealth for shareholders?. Journal of Property Investment & Finance, 22:5, pp. 386-400.
12. Milunovich, S. and Tsuei, A. (1996) EVA® in the computer industry. Journal of Applied Corporate Finance, 9:1, pp. 104-115.
13. O'Byrne, S. (1996) EVA® and market value. Journal of Applied Corporate Finance, 9, pp. 116-125.
14. O'Hanlon, J. and Peasnell, K. (1998) Wall Street's contribution to management accounting: The Stern Stewart EVA® financial management system. Management Accounting Research, 9:4, pp. 421-444.
15. Ohlson, J. (1989) Accounting earnings, book value, and dividends: The theory of the clean surplus equation. Clean Surplus: A Link Between Accounting and Finance, pp. 165-232.
16. Ohlson, J. (1995) Earnings, book value, and dividends in security valuation. Contemporary Accounting Research, 11, pp. 661-687.
17. Ooi, J. T. L. and Liow, K. H. (2002) Real estate corporations: The quest for value. Journal of Property Investment and Finance, 20:1, pp. 23-35.
18. Peasnell, K. V. (1982) Some formal connections between economic values and yields and accounting numbers. Journal of Business Finance and Accounting, 9, pp. 361-381.
19. Preinreich, G. A. D. (1938) Annual survey of economic theory: The theory of depreciation. Econometrica, pp. 219-231.
20. Tully, S. (1993) The real key to creating wealth. Fortune, 20, pp. 38-50.
21. Wallace, J. (1997) Adopting residual income-based compensation plans: Do you get what you pay for?. Journal of Accounting and Economics, 24, pp. 275-300.
22. Warr, R. S. (2005) An empirical study of inflation distortions to EVA. Journal of Economics and Business, 57, pp. 119-137.