{"id":3112,"date":"2021-04-01T00:15:22","date_gmt":"2021-03-31T16:15:22","guid":{"rendered":"http:\/\/www.gssinst.org\/irer\/?p=3112"},"modified":"2025-12-19T18:58:09","modified_gmt":"2025-12-19T10:58:09","slug":"do-foreign-investors-perform-better-than-domestic-investors-evidence-from-commercial-real-estate-equity-investment-in-emerging-market","status":"publish","type":"post","link":"https:\/\/www.gssinst.org\/irer\/2021\/04\/01\/do-foreign-investors-perform-better-than-domestic-investors-evidence-from-commercial-real-estate-equity-investment-in-emerging-market\/","title":{"rendered":"Do Foreign Investors Perform Better than Domestic Investors? Evidence from Commercial Real Estate Equity Investment in Emerging Market"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3112\" class=\"elementor elementor-3112\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6b084dbc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6b084dbc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-47d15be8\" data-id=\"47d15be8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-73767d13 elementor-widget elementor-widget-text-editor\" data-id=\"73767d13\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\"><div class=\"article_label\">Article<\/div><p class=\"article_title\">Do Foreign Investors Perform Better than Domestic Investors? Evidence from Commercial Real Estate Equity Investment in Emerging Market<\/p><div><p class=\"title_label_large\">Author<\/p><p class=\"title_label_large\">Start Page \/ End Page<\/p><p class=\"title_label\">Volume<\/p><p class=\"title_label\">Issue Number<\/p><p class=\"title_label\">Year<\/p><p class=\"title_label_large\">Publication<\/p><\/div><div><p><!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p><p class=\"title_text_large\">Dongjoong Kim, Changha Jin,\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Jin Man Lee<\/p><p class=\"title_text_large\">59 \/ 85<\/p><p class=\"title_text\">24<\/p><p class=\"title_text\">1<\/p><p class=\"title_text\">2021<\/p><p class=\"title_text_large\">International Real Estate Review<\/p><\/div><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Abstract<\/p><p><!-- Abstract Content --><br \/>Financial globalization has enabled investors to allocate some of their portfolio assets to foreign countries and alternative assets. This environment has also created an increase in investment in international real estate especially in the emerging markets. In this study, we investigate whether foreign real estate investors outperform domestic investors after controlling for property specific characteristics. Using property level transaction data of Korea from 2003 to 2016, we also examine the characteristics of commercial real estate investment associated with the probability of an acquirer being a foreign investor versus a domestic investor. The binary and multinomial probability models are used to test our research hypothesis and the structural equation model is applied to find the determinants of the internal rate of return. The result reveals foreign investors perform better than domestic investors in a holding period analysis. Furthermore, the findings support that foreign direct and indirect real estate investments are statistically significant to the age of the building, corporate bond and exchange rates, growth domestic product growth, and the equity market movement in the domestic market.<\/p><p>\u00a0<\/p><p><!-- PDF DownloadLink --><\/p><p class=\"download\"><a href=\"http:\/\/www.gssinst.org\/irer\/wp-content\/uploads\/2021\/03\/v24n01-3_Do-Foreign-Investors-Perform-Better-than-Domestic-Investors-Evidence-from-Commercial-Real-Estate-Equity-Investment-in-Emerging-Market.pdf\"><strong>View PDF -https:\/\/doi.org\/10.53383\/100316<\/strong><\/a><\/p><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Keywords<\/p><p><!-- Keywords --><\/p><div><p class=\"keywords\">Commercial Real Estate, Foreign Investors, International Finance, Real Estate Investment<\/p><\/div><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Article Do Foreign Investors Perform Better than Domestic Investors? Evidence from Commercial Real Estate Equity Investment in Emerging Market Author&hellip;<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"article-template.php","format":"standard","meta":[],"categories":[219,217],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/3112"}],"collection":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/comments?post=3112"}],"version-history":[{"count":4,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/3112\/revisions"}],"predecessor-version":[{"id":4706,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/3112\/revisions\/4706"}],"wp:attachment":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/media?parent=3112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/categories?post=3112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/tags?post=3112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}