The Impacts of Tiananmen Square Events on Hong Kong Real Estate and Non-real Estate Wealth |
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| Authors: | He Ling T Myer F C Neil Webb James R |
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| Institution: | (1) Department of Economics and Finance, School of Business, Christopher Newport University, Newport News, VA, 29606;(2) Department of Finance, James J. Nance College of Business Administration, Cleveland State University, Cleveland, OH, 44115 |
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| Abstract: | Based on the unique characteristics of real estate, the hypothesis of significant additional political sensitivity of real estate has been developed and tested in this study. By classifying six major kinds of events that took place preceding and during the Tiananmen Square demonstrations and performing the multivariate test, this study finds evidence that Hong Kong real estate, overall, is more sensitive than other Hong Kong industries to major political events in China. |
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| Keywords: | Tiananmen Square events price sensitivity Hong Kong real estate |
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