The policy of valuing listed property trust assets / by Dan Ken Dimmock.

Dimmock, Dan Ken. (1999). The policy of valuing listed property trust assets / by Dan Ken Dimmock. Master's Thesis, Dept. of Commerce, The University of Queensland.

       
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Author Dimmock, Dan Ken.
Thesis Title The policy of valuing listed property trust assets / by Dan Ken Dimmock.
School, Centre or Institute Dept. of Commerce
Institution The University of Queensland
Publication date 1999
Thesis type Master's Thesis
Language eng
Subjects 14 Economics
Abstract/Summary This thesis was prepared to establish whether it is in the interests of shareholders for managers of listed property trusts to frequently commission valuers to assess the market value of their trust's property assets. It is accepted common practice for the majority of property trust management companies to have property investments valued at least every twelve months or where the Manager or Trustee believes that there has been a significant change in the value of property. Further, it is unambiguous that the valuation of properties is a costly exercise, this paper endeavours to determine whether the information content of valuations conducted on listed property trust assets is sufficient to justify this expense. It is proposed that analysts and investors more efficiently impound information of changing economic fundamentals affecting the property industry in the share price of listed property trusts than valuers of listed property trust assets can reflect the changes of these economic fundamentals in the valuation of properties. The proposition that the change in the value of listed property assets as determined by valuers lags the movement of the share price of the listed property trusts could not been sustained. The proposition can not be upheld. Econometric methods were employed, the findings were statistically significant with respect to commercial property, however, the proposition could not be substantiated when other property sectors were investigated.
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