Is There a Term Structure? Empirical Evidence from Shanghai Office Rental Market
Is There a Term Structure? Empirical Evidence from Shanghai Office Rental Market
复制标题
有期限结构吗？
DOI：
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发表时间：
2009
期刊：
影响因子：
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通讯作者：
Lu Ruichang
中科院分区：
文献类型：
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作者：
F. Fang;Lu Ruichang
本文主要对上海写字楼租赁市场的期限结构进行实证研究。以2005 - 2008年上海写字楼租赁市场成交的555份合同为样本，通过对建筑进行排序，并将样本划分为11个小的中心商务区，对以往研究中通常忽略的建筑质量和微区位进行控制。实证结果表明，上海市场存在向下的期限结构，但在研究年份间并不十分一致。
This paper mainly conducts an empirical study of the term structure of the Shanghai office rental market. Based on 555 executed contracts in the Shanghai office rental market from 2005 to 2008, the building quality and micro location are controlled, which are generally omitted in previous studies, through ranking of buildings and dividing the sample into 11 small central business districts (CBDs). The empirical results show that there is a downward term structure in the Shanghai market, but it is not very consistent during the studied years.