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PRODID:-//Columba Systems Ltd//NONSGML CPNG/SpringViewer/ICal Output/3.3-
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VERSION:2.0
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
DTSTAMP:20191016T150735Z
DTSTART:20191106T130000Z
DTEND:20191106T140000Z
SUMMARY:PEM Seminar Series - Commercial Real Estate Market Structure and 
 Transaction Liquidity — A Social Network Analysis
UID:{http://www.columbasystems.com/customers/uom/gpp/eventid/}qfl-k0cf3g4
 x-j3j97f
DESCRIPTION:Abstract:\nThe study analyses the market network structure ev
 olution of the selected commercial real estate (CRE) markets in the Unit
 ed Kingdom. While previous studies discuss investors’ behaviours at an a
 ggregate level but assuming investors make decisions independently\, thi
 s paper investigates the transaction counterparties and their transactio
 n networks. This study uses Social Network Analysis (SNA) to investigate
  the role changes of foreign investors\, the evolution of transaction ne
 twork structure\, and the influences of the changes to market liquidity.
  Results from selected metro markets in 2001-2015 show that\, the increa
 sing number of foreign investors provide excess market demands but have 
 not effectively improved the asset circulation. Only a certain number of
  foreign investors act as “core investors” and release the liquidity in 
 the market. The UK CRE market structure reflects an integrating process 
 with some core investors linking the transaction networks. VECM model re
 sults suggest that it will hamper the pricing efficiency if a market has
  a strong degree-assortative structure i.e. large investor tend to link 
 with other large counterparties but not small ones. Stronger links with 
 same-country counterparties improve pricing efficiency. The findings pro
 vide a new vision on analysing the influences of overseas investors\, ma
 rket liquidity and stability.
STATUS:TENTATIVE
TRANSP:TRANSPARENT
CLASS:PUBLIC
LOCATION:University Place 3.210\, University Place\, Oxford Road\, Manche
 ster
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