政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/60744
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  全文筆數/總筆數 : 110940/141868 (78%)
造訪人次 : 47572869      線上人數 : 911
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜尋範圍 查詢小技巧:
  • 您可在西文檢索詞彙前後加上"雙引號",以獲取較精準的檢索結果
  • 若欲以作者姓名搜尋,建議至進階搜尋限定作者欄位,可獲得較完整資料
  • 進階搜尋
    請使用永久網址來引用或連結此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/60744


    題名: 不動產估價師理性行為之探討
    其他題名: Are Appraisers Rational?
    作者: 陳奉瑤
    Chen,Fong-yao
    貢獻者: 政大地政系
    關鍵詞: 部分調整;估價師行為;不動產證券化;估價平滑
    partial adjustment;appraisal behavior;REITs,smoothing
    日期: 2011-12
    上傳時間: 2013-09-12 16:07:30 (UTC+8)
    摘要: 金融海嘯席捲世界造成重大傷害,突顯出經濟景氣循環中繁榮階段的過度樂觀與泡沫化,其似乎隱現投資人具動物本性,有追高助跌的行為,也引發對估價平滑評判的再省思。過去探討估價平滑之相關文獻多以總體資料切入,並將該現象歸因於估價師不能確實掌握市場變動,而直接尋求去平滑的方法。本文有別於過去多數相關研究,改由個別估價資料進行觀察,以T-REITs重新估價案例為對象,依循Quan & Quigley(1991)部分調整模型之理念,以迴歸分析衡量估值與當期市場價格和前期估值之關係,判斷部分調整的程度;並藉由信心函數的建立,進一步觀察部分調整行為是否理性。實證結果顯示,市場噪音越大,估價師賦予市場資訊的權重越小,驗證估價師確有部分調整行為且應屬理性行為。
    Previous studies defined appraisal smoothing as reduced volatility or the lag structure of the appraisal-based index as compared to the transaction-based index. Most of these studies examined data at an aggregate level and used extensive data sets in order to de-smooth the appraisal-based index. This paper aims to observe smoothing behavior among appraisers in Taiwan. It uses the re-appraisal data of T-REITs and modifies the partial adjustment model, developed by Quan & Quigley(1991), to observe smoothing issues. The results show that partial adjustments have existed and that T-REITs appraisers attach less weights to market information because of market noise.
    關聯: 住宅學報, 20(2), 47-60
    資料類型: article
    顯示於類別:[地政學系] 期刊論文

    文件中的檔案:

    檔案 描述 大小格式瀏覽次數
    4760.pdf3394KbAdobe PDF21148檢視/開啟


    在政大典藏中所有的資料項目都受到原著作權保護.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏,無償提供學術研究與公眾教育等公益性使用,惟仍請適度,合理使用本網站之內容,以尊重著作權人之權益。商業上之利用,則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作,已盡力防止侵害著作權人之權益,如仍發現本網站之數位內容有侵害著作權人權益情事者,請權利人通知本網站維護人員(nccur@nccu.edu.tw),維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - 回饋