Bone-Winkel, Stephan (1994) The strategic management of open-ended property funds. Journal of property finance 5 (4), pp. 43-55.
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German open-ended property fund shows that a strategic management of property investment is indispensable. Suggests that it is possible and fruitful to adapt the instruments for strategic management used by industrial companies to fit the needs of property companies (such as the five-forces model and the value chain developed by Porter, the strategic portfolio analysis developed by McKinsey, etc.). In the long-term perspective of institutional investors, dynamic factors such as use, flexibility, productivity and competitive advantages play a much more important role. These thoughts have led to the need to build an operational model for the analysis and “strategic” valuation of property portfolios. This kind of portfolio approach emerges as an effective and flexible instrument for identifying and visualizing strategic development potentials and problem configurations within the assets of open-ended property funds and other institutional investors.
|Institutions:||Business, Economics and Information Systems > IRE|BS > Professur für Immobilienentwicklung (Prof. Dr. Stephan Bone-Winkel)|
|Research groups and research centres:||Immobilien- und Kapitalmärkte|
|Keywords:||Germany, Investment, Portfolio investment, Property, Strategic management, Value analysis, Value chain|
|Subjects:||300 Social sciences > 330 Economics|
|Refereed:||Yes, this version has been refereed|
|Created at the University of Regensburg:||Unknown|
|Deposited On:||10 Aug 2009 10:56|
|Last Modified:||17 Jan 2012 14:28|