dc.contributor.advisor |
de Carcenac, Daniel |
en |
dc.contributor.postgraduate |
Nkuna, Pat |
en |
dc.date.accessioned |
2016-05-04T13:45:14Z |
|
dc.date.available |
2016-05-04T13:45:14Z |
|
dc.date.created |
2016-03-30 |
en |
dc.date.issued |
2015 |
en |
dc.description |
Mini-disseration (MBA)--University of Pretoria, 2015. |
en |
dc.description.abstract |
This research aims to shed light on the relationship between the South African CPI inflation and JSE-listed property index returns. Furthermore, the relationship between the South African CPI inflation and JSE-all share index returns was modelled with the intent of comparing the relationship to that of JSE-listed property index (versus South African CPI). The short-term relationship between CPI inflation and JSE-listed property index returns was discovered to be negative for the period starting from Jan 2005 to Jun 2015, in the other hand, the relationship between the JSE-all share index returns and CPI inflation was seen to be positive over the same period.
The study also tests for the consistency of the relationships between the JSE-listed property and JSE-all share returns (against CPI inflation) to changes in the South Africa repo rate cycles (over the period starting from Jan 2005 to Jun 2015). The results show that a change in the repo rate cycle changes the sign of the CPI inflation coefficients of the short-term relationships, which indicates that the relationships are unstable (for the short-term case). Moreover, cointegration models were fitted to determine the existence of a long-term relationship between the JSE-all share and JSE-listed property indices (against the South Africa CPI index). The results of the long-term relationships indicate a meaningful economic relationship between the JSE-listed property index and the CPI the Hansen instability test proved the relationship to be stable. On the other hand, the relationship between the CPI and the JSE-all share index was not meaningful (it failed both the Hansen instability as well as the Engle and Granger tests). |
en |
dc.description.availability |
Unrestricted |
en |
dc.description.degree |
MBA |
en |
dc.description.department |
Gordon Institute of Business Science (GIBS) |
en |
dc.description.librarian |
nk2016 |
en |
dc.identifier.citation |
Nkuna, P 2015, South African listed real estate as protection against inflation, MBA Mini-disseration, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/52278> |
en |
dc.identifier.other |
GIBS |
en |
dc.identifier.uri |
http://hdl.handle.net/2263/52278 |
|
dc.language.iso |
en |
en |
dc.publisher |
University of Pretoria |
en_ZA |
dc.rights |
© 2016 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. |
en |
dc.subject |
UCTD |
en |
dc.title |
South African listed real estate as protection against inflation |
en |
dc.type |
Mini Dissertation |
en |