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Decision making in small property companies

Decision making in small property companies The literature on investor decision‐making behaviour in property investment is sparse, loosely integrated and focused principally upon large, institutional investors. It reflects rational, normative models that treat investor behaviour as highly structured and formalised. By contrast, behavioural psychology suggests that individuals frequently act sub‐optimally. These ideas have been explored in financial decision making and have been found in the actions of property valuers and property lenders. This paper addresses this neglected area of property investment decision‐making. Semi‐structured interviews were conducted with a sample of property investment directors of smaller property companies. The interviews investigate the decision‐making structures in these companies, the process by which investment strategy is formulated, the investment “screening” process and the determinants of purchase/sell decisions. The findings are discussed and related to the literature on decision making under uncertainty. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Property Investment & Finance Emerald Publishing

Decision making in small property companies

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References (41)

Publisher
Emerald Publishing
Copyright
Copyright © 2000 MCB UP Ltd. All rights reserved.
ISSN
1463-578X
DOI
10.1108/14635780010357569
Publisher site
See Article on Publisher Site

Abstract

The literature on investor decision‐making behaviour in property investment is sparse, loosely integrated and focused principally upon large, institutional investors. It reflects rational, normative models that treat investor behaviour as highly structured and formalised. By contrast, behavioural psychology suggests that individuals frequently act sub‐optimally. These ideas have been explored in financial decision making and have been found in the actions of property valuers and property lenders. This paper addresses this neglected area of property investment decision‐making. Semi‐structured interviews were conducted with a sample of property investment directors of smaller property companies. The interviews investigate the decision‐making structures in these companies, the process by which investment strategy is formulated, the investment “screening” process and the determinants of purchase/sell decisions. The findings are discussed and related to the literature on decision making under uncertainty.

Journal

Journal of Property Investment & Finance – Emerald Publishing

Published: Dec 1, 2000

Keywords: Decision making; Property management; Investment; Investment property portfolio

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