Exploring the Role of Intermediaries in Dual-Special Purpose Vehicle Mode REITs
Authors: 
Jingxia Xu, Jijin Geng, Yang Yu, Yun XiongAuthors Info & Claims
Pages 36 - 40
Abstract
Real Estate Investment Trusts (REITs) receive increasing attention in China, with underlying assets involving shopping centers, office buildings, retail stores, rental and residential real estate properties, and infrastructures. Due to double taxation and imperfect related legal system, REITs in China generally adopt a dual-SPV structure. Intermediaries play a central role in the issuance and transaction process of REITs. Based on the role of intermediaries in REITs issuance and transaction, we summarize and analyse problems of intermediaries in REITs business through field research and empirical analysis, conclude that problems of intermediaries in professionalism, information disclosure, due diligence and cash flow collection account for over 90% of all problems of intermediaries, and give suggestions in terms of improving regulation, cultivating talents and preventing risks.
References
[1]
CITIC, S.R.G. 2021. International experience and lessons learned in infrastructure REITs development. Securities Market Herald, 1: 12-21.
[2]
Lu, X.S. 2019. International Experience, Domestic Practice and Recommendations of REITs. Journal of Region Financial Research, 8: 14-20.
[3]
Chang, C. 2020. Difficulties and suggestions for the development of domestic REITs. Chinabond, (12): 55-60.
[4]
Zhang, X. 2020. Strengthening top-level design to improve REITs legislation and regulatory system. China Real Estate, 11: 46-49.
[5]
Peng, K. Thinking about investing in infrastructure public REITs. China Finance, 2021, 05, 36-38.
[6]
Brockman, P., French, D.W., Tamm, C. 2014. REIT organizational structure, institutional ownership, and stock performance. Journal of Real Estate Portfolio Management, 20, 21-36.
[7]
Wu, H.S., Yao, D.L. 2020. Analysis of factors influencing the yield of REITS[J]. Business Spectator, 5, 114-115.
[8]
Guo, X.K., Cao, A.X. 2019. Improving the supporting system and developing public REITs[J]. Tsinghua Financial Review, 9, 84-86.
[9]
Long an Law Firm. 2019. Case analysis of asset securitization business penalty and compliance risk management. http://www.longanlaw.com/legals/12346.html/.
[10]
Structural Finance Forum. 2020. Why the governance issues in the public REITs circle are so hot. https://cj.sina.com.cn/articles/view/7487993897/1be51b82900100oxlc?from=finance&subch=ofinance.
Recommendations
An in-depth investigation of five machine learning algorithms for optimizing mixed-asset portfolios including REITs
AbstractReal estate is a favored investment option as it allows investors to diversify their portfolios and minimize risk. Investors can invest in real estate directly by purchasing a property, or through real estate investment funds (REITs) where they ...
Highlights- ML comparison for accurate prediction of real estate, stock, and bond time series.
- Genetic algorithm to optimize prediction-based multi-asset portfolio including REITs.
- Comparison against econometric benchmarks and historical data ...
COVID-19 and REITs Crash: Predictability and Market Conditions
AbstractThis study examines the applicability of the log-periodic power law (LPPL) model for the real estate investment trust (REIT) market in the early stages of the coronavirus disease 2019 (COVID-19) pandemic. Our results indicate that unlike in the ...
Optimal Housing, Consumption, and Investment Decisions over the Life Cycle
We derive explicit solutions to life-cycle utility maximization problems involving stock and bond investment, perishable consumption, and the rental and ownership of residential real estate. Prices of houses, stocks and bonds, and labor income are ...
Comments
Please enable JavaScript to view thecomments powered by Disqus.Information & Contributors
Information
Published In
September 2021
189 pages
ISBN:9781450385091
DOI:10.1145/3490322
Copyright © 2021 ACM.
Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]
Publisher
Association for Computing Machinery
New York, NY, United States
Publication History
Published: 27 December 2021
Check for updates
Author Tags
Qualifiers
- Research-article
- Research
- Refereed limited
Conference
ICBDT 2021
ICBDT 2021: 2021 4th International Conference on Big Data Technologies
September 24 - 26, 2021
Zibo, China
Contributors
Other Metrics
Bibliometrics & Citations
Bibliometrics
Article Metrics
- 0Total Citations
- 54Total Downloads
- Downloads (Last 12 months)9
- Downloads (Last 6 weeks)0
Reflects downloads up to 14 Nov 2024
Other Metrics
Citations
View Options
Get Access
Login options
Check if you have access through your login credentials or your institution to get full access on this article.
Sign inFull Access
View options
View or Download as a PDF file.
PDFeReader
View online with eReader.
eReaderHTML Format
View this article in HTML Format.
HTML Format