Chow, Yuen Leng
| ■所属部署名 | 国際大学国際経営学研究科 |  | ||
| ■職名 | 准教授 | |||
更新日: 20/04/02 12:53
研究者基本情報
氏名
Chow, Yuen Leng
所属
- 国際大学国際経営学研究科 准教授
学歴
- 2002年- 2008年Pennsylvania State University Real Estate
- 1998年- 2000年National University of Singapore Real Estate
- 1994年- 1997年National University of Singapore Real Estate
経歴
- 2019年09月- 現在International University of Japan Graduate School of International Management Associate Professor
- 2015年- 2019年National University of Singapore Institute of Real Estate Studies Senior Research Fellow
- 2008年- 2014年National University of Singapore Department of Real Estate Assistant Professor
- 2001年- 2008年National University of Singapore Department of Real Estate Senior Tutor
研究活動情報
研究分野
- 人文・社会 / 商学 / Finance, Real Estate, Auctions, Healthcare
研究キーワード
- Green Finance, Healthcare, Corporate Governance, Corporate Finance, Real Estate Finance
論文
- A Relook into the Impact of Divestitures in the Presence of Agency Conflicts: Evidence from Property Subsidiary Sell-Offs in ChinaRuoran Xu, Yuen Leng Chow, Joseph T. L. OoiJOURNAL OF REAL ESTATE FINANCE AND ECONOMICS 55(3) 313-344 2017年10月 [査読有り]We analyze property subsidiary sell-offs in China to examine her market reaction to firms' divestiture decisions. Overall, the response from the stock market is neutral. However, detailed analysis reveals that the market reacts differently to property subsidiary sell-off announcements by state-owned enterprises (SOEs) and non-SOEs. Consistent with findings from extant literature, we find statistically positive market returns associated with non-SOE sell-off announcements. However, we find statistically negative market returns associated with SOE sell-off announcements. We suggest that this divergent market reaction is influenced by the institutional feature of the Chinese market and is consistent with the high agency costs associated with state ownership.
- Auction versus Negotiated Sale: Evidence from Real Estate SalesReal Estate Economics 43(2) 432-470 2015年 [査読有り]
- Do Changes in Credit Ratings of REITs affect their Capital Structure Decisions?Journal of Property Research 31(3) 264-285 2014年 [査読有り]
- First-Price Sealed-Bid Tender versus English Open Auction: Evidence from Land Auctionsチョウ ユンリンReal Estate Economics 42(2) 253-278 2014年 [査読有り]
- A Cointegration Approach to Understanding Singapore's Industrial Space SupplyJournal of Property Investment and Finance 20(2) 96-115 2002年 [査読有り]
作品
- Should Private Property Developers Partner with the Government to Provide Affordable Housing in Singapore?チョウ ユンリン 教材 2017年 - 2018年
- The Silver Housing Challengeチョウ ユンリン 教材 2017年 - 2018年
- Towards Sustainable Development: Singapore's and CDL's Journeysチョウ ユンリン 教材 2017年 - 2018年
- Sabana Shar'iah Compliant Industrial REIT - A Study on REIT Governance and Managementチョウ ユンリン 教材 2017年 - 2018年
- Croesus Retail Trust: Switching to an Internal Management Modelチョウ ユンリン 教材 2017年 - 2018年
- CapitaLand Retail China Trust: The Listing Storyチョウ ユンリン 教材 2017年 - 2018年
- Manulife US REIT: 2015 Listing on the Singapore Stock Exchangeチョウ ユンリン 教材 2017年 - 2018年
- The Remaking of Suntec City: An Ex-Post Evaluationチョウ ユンリン 教材 2017年 - 2018年
- BlackRock Intermark Divestment: Strategy and Financial Analysisチョウ ユンリン 教材 2017年 - 2018年
- China's New Urbanisation: The Transformation and Development of Real Estate Companies - Vanke Liangzhu Cultural Villageチョウ ユンリン 芸術活動 2016年 - 2017年
- Clarke Quay: An Evolving Identityチョウ ユンリン 教材 2016年 - 2017年
- Vertical Villages: Living, Working, and Playing under One Roofチョウ ユンリン 教材 2016年 - 2017年
- Gentrification in Singapore: Saviour or Neighbourhood Wrecker?チョウ ユンリン 教材 2016年 - 2017年
競争的資金
- An Examination of Bidding Strategies in Real Estate Auctions: An Experimental ApproachNational University of Singapore
- A Close Look: Singapore Real Estate AgentsNational University of Singapore
その他
- 2019年07月 Working Paper: Population Ageing and Healthcare REITs: JHC-REITs versus SHC-REITsA rapidly ageing population will put increasing pressure on healthcare and long-term care services for governments globally. Using a comparative study, this paper draws practical inferences about private equity investment in healthcare: (1) whether this is a viable avenue to attract private funding into the healthcare business to help elevate the demands on government funding and support; and (2) comparing the business model of healthcare REITs in two Asia-Pacific countries – “super-aged” Japan and a rapidly aging Singapore.
- 2018年 Working Paper: Do Board Turnovers Matter: Evidence from Externally Managed REITsIn recent years, good corporate governance has increasingly become a necessary signal by firms to attract good investors. At the same time, governments around the world are adopting proactive regulatory measures to protect shareholder rights. This paper intends to examine the impact of good corporate governance in real estate, specifically, real estate investment trusts (REITs). To enjoy tax benefits, REITs are heavily regulated in terms of their distribution policy, asset allocation, and ownership composition. As a result, this paper asks whether internal monitoring by board directors are still valued by investors. Adopting an event study and cross section analysis, the results indicate muted market responses to board changes in the short-term. However, there is strong empirical evidence to illustrate that shareholders react negatively to board changes when the firm is doing well. Furthermore, although shareholders do not react to changes of independent board directors, shareholders are concerned about the balance of insiders versus independent directors on the board.
教育活動情報
担当経験のある科目
- Advance Corporate Finance (International University of Japan)
- Portfolio Management (International University of Japan)
- Advanced Real Estate Marketing (National University of Singapore)
- Research Methods (National University of Singapore)
- Derivatives Securities (International University of Japan)
- Entrepreneurial Finance (International University of Japan)
- Real Estate Finance (National University of Singapore, Pennsylvania State University)