A review of efficiency measures for REITs and their specific application for Malaysian Islamic REITs

Chuweni, Nor Nazihah & Eves, Chris (2017) A review of efficiency measures for REITs and their specific application for Malaysian Islamic REITs. Journal of Islamic Accounting and Business Research, 8(1).

[img] Accepted Version (PDF 425kB)
Administrators only | Request a copy from author

View at publisher

Abstract

Purpose

  • This paper aims to present a conceptual model on the efficiency of Islamic Real Estate Trusts (I-REITs) available in Malaysia. The key difference between the Islamic and their conventional investment vehicle part is mainly its own Shariah framework.

Design/methodology/approach

  • The paper reviews and synthesises the relevant literature on the performance analysis and efficiency measurements of Real Estate Investment Trusts. The paper then develops and proposes a conceptual model to measure the efficiency of Malaysian Islamic REITs.

Findings

  • The paper identifies and examines the appropriate methods and instruments to measure the efficiency in relation to the risk and profitability of Islamic REITs. The efficiency measure is important for the fund managers in order to maximise the shareholders’ return in an investment of property portfolio as well as proposing the best way to allocate resources efficiently.

Research limitation/implications

  • This is a preliminary review of current work that identifies the issues that will be addressed in future empirical research. The authors will be undertaking this future empirical research in measuring the efficiency of Malaysian REITs particularly the Islamic REITs using the non-parametric approach of Data Envelopment Analysis.

Originality/value

  • To date, there has been very limited research on the efficiency measurement of Islamic REITs. The current analysis of REIT has been focused on traditional non-Islamic funds. This paper will review and discuss the current literature on efficiency measurement to determine the most appropriate approaches and methodologies for future application in performance analysis of efficiency measure for Malaysian Islamic REITs.

Impact and interest:

Citation counts are sourced monthly from Scopus and Web of Science® citation databases.

These databases contain citations from different subsets of available publications and different time periods and thus the citation count from each is usually different. Some works are not in either database and no count is displayed. Scopus includes citations from articles published in 1996 onwards, and Web of Science® generally from 1980 onwards.

Citations counts from the Google Scholar™ indexing service can be viewed at the linked Google Scholar™ search.

ID Code: 88044
Item Type: Journal Article
Refereed: Yes
Additional URLs:
Keywords: Data Envelopment Analysis, Efficiency, Islamic REITs, M-REITs
DOI: 10.1108/JIABR-03-2015-0007
ISSN: 1759-0817
Divisions: Current > Schools > School of Civil Engineering & Built Environment
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Copyright Owner: Copyright 2015 Emerald Group Publishing Limited
Deposited On: 11 Oct 2015 23:28
Last Modified: 12 Jan 2017 04:07

Export: EndNote | Dublin Core | BibTeX

Repository Staff Only: item control page