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International investors have shown considerable recent interest regarding property investment in China via both direct and indirect property. The purpose of this paper is to assess the significance and performance of the China commercial property market compared to six developed and emerging commercial property markets in Asia.

This paper analyses the performance of commercial property in China over 1998‐2007 for both direct and indirect property. Risk‐adjusted performance analysis is used to assess the added value of China commercial property in a pan‐Asia portfolio, with the portfolio diversification benefits of China commercial property also assessed. Sub‐period analyses are also used to assess the dynamics of China commercial property.

This paper finds that China commercial property has shown significantly enhanced performance and diversification benefits in recent years. In a pan‐Asia property fund context, there are clear diversification benefits provided by China commercial property, with these benefits also being evident in the other Asian property markets. The findings highlight the benefits of a pan‐Asia property investment strategy by international property investors, as well as the key benefits and added‐value of including China commercial property in this pan‐Asia property investment strategy.

Previous empirical research into the China commercial property markets has been very limited. This paper rigorously assesses the role of China commercial property in a pan‐Asia property portfolio context. Given the increasing interest by the leading international property investors regarding investing in China commercial property, this research enables more informed and practical investment decision‐making regarding the role of both direct and indirect China commercial property as part of a pan‐Asia institutional property investment strategy.

The significant economic growth and urbanisation of China in recent years has seen increased importance given to infrastructure development in China; this includes airports, toll roads, communications, ports, power plants and water. The purpose of this paper is to assess the significance and investment performance of infrastructure in China, the linkages to commercial property markets and the increasing future role of international private infrastructure investors in China.

This paper analyses the performance of infrastructure in China over 1995‐2006. Using the Hong Kong‐listed China infrastructure companies, risk‐adjusted performance analysis is used to assess the added value of China infrastructure, with the portfolio diversification benefits of China infrastructure also assessed.

The paper finds that China infrastructure has delivered significant and improved risk‐adjusted returns, but there is evidence of some recent loss of diversification benefits by China infrastructure in a portfolio. The strong linkage between effective infrastructure and effective commercial property markets is particularly important, as international investors seek to increase their exposure to China's infrastructure and commercial property markets to add value in their international investment portfolios.

This is the first paper to rigorously assess the significance and performance of infrastructure in China. This risk‐adjusted analysis has enabled more informed and practical investment decision making by international investors regarding the significance and role of China infrastructure and the associated strong linkage to the commercial property markets in China. This will take on increased importance as international investors increase the significance of both China infrastructure and China commercial property in their portfolios.

The Asian real estate markets have grown considerably in recent years and have taken on increased investment importance, particularly with significant developments in the emerging markets in Asia. This paper assesses the opportunities for more research on the Asian real estate markets, by highlighting the significance of Asia real estate, the drivers behind this growth and the unique opportunities this presents for high-quality real estate research, by both local researchers and their international colleagues. Strategies for delivering this research agenda are also identified.

This research is based on a thorough understanding of the Asian real estate markets, based on my own research agenda, personal interactions, insights and extensive discussions with real estate leaders in the Asian markets. This is supported by a clear understanding of the real estate research opportunities in the Asian markets and the strategies needed to deliver this research agenda in an effective manner.

A range of real estate research areas are identified to increase the level of Asian real estate research. This sees research opportunities around key areas such as market dynamics, real estate investment vehicles, alternate real estate sectors, infrastructure and sustainability. Strategies for expanding this level of research for both local and international real estate researchers are also identified.

With the Asian real estate markets taking on more importance with many international real estate investors, it is important to see more high-quality research into these dynamic real estate markets. This research will see a fuller understanding of these Asian real estate markets to enable more informed real estate investment decision-making.

The need for more high-quality research into the Asian real estate markets is clearly presented, with enabling strategies to achieve this agenda identified. This will see expanded research opportunities to critically research these unique real estate markets and produce high-quality research publications.

With the Journal of Property Investment and Finance (JPIF) being 40 years old, this paper reflects on the changes in real estate research over the last 40 years, the drivers behind these changes and how JPIF has evolved over these 40 years to retain its position as a leading real estate research journal. Challenges and opportunities are also identified for the next generation of real estate researchers to continue to develop the real estate research agenda.

This paper is presented as a reflective article, drawing on a deep personal understanding of real estate research, how it has evolved over the last 40 years, key drivers of these changes and the challenges going forward.

Fundamental changes in real estate research over the last 40 years and drivers behind these changes are articulated. A pathway forward for real estate research is identified, as well as how JPIF fits into the mix.

With real estate research being increasingly important in real estate academics' careers, this article provides a practical roadmap for how real estate research has changed, why it has changed and future opportunities for the next generation of real estate researchers.

This is the first paper to reflect on these key changes and drivers behind these changes in real estate research, as well as the opportunities for the next generation of real estate researchers.

Research impact has taken on increased importance at both a micro- and macro-level and is a key factor today in shaping the careers of real estate researchers. This has seen a range of research impact metrics become global benchmarks when assessing research impact at the individual academic level and journal level. Whilst recognising the limitations of research impact metrics, this paper uses these research impact metrics to identify the leading research impact researchers in real estate, as well as the leading real estate journals in the real estate impact space. The nexus between research quality and research impact is also articulated. As well as focusing on research quality, strategies are identified for the effective incorporation of research impact into a real estate researcher's agenda to assist their research careers; particularly for Early Career Researchers in real estate.

The research impact profile of over 150 real estate researchers and 22 real estate journals was assessed using Google Scholar and Publish or Perish. Using the research impact metrics of the h-index, total citations and i10, the leading high impact real estate researchers as well as the high impact real estate journals are identified.

Based in these research impact metrics, the leading real estate researchers in impactful real estate research are identified. Whilst being US focused, there is clear evidence of increasing roles by ERES, AsRES and PRRES players. The leading real estate journals in the impact space are identified, including both real estate-specific journals and the broader planning/urban policy journals, as well as being beyond just the standard US real estate journals. Researcher career strategies are also identified to see both research quality and research impact included as balanced elements in a real estate researcher's career strategy.

With research impact playing an increased role in all real estate researchers' careers, the insights from this paper provide strong empirical evidence for effective strategies to expand the focus on the impact of their real estate research agendas. This sees a balanced strategy around both research quality and research impact as the most effective strategy for real estate researchers to achieve their research career goals.

Research impact has taken on increased importance globally and is an important factor in shaping real estate researchers' careers. Using research impact metrics, this is the first paper to rigorously and empirically identify the leading research impact players and journals in real estate, as well as identifying strategies for the more effective inclusion of impact in real estate researchers' agendas.

This paper reviews the strategic responses of successful local Chinese banks (LCBs) in the changeable Hong Kong banking sector over the past decades. Given the mixed outlook of the industry resulting from the handover of sovereignty, financial internationalization, and regional and domestic economic developments, this paper also discusses the benefits of using strategic alliance as a means for LCBs to meet current and future challenges. Based on case reviews, the paper demonstrates the values of strategic management concepts for small banks to cope with an externally oriented and politically uncertain operating environment.

This paper uses a probit model to analyse 100 observations in terms of three hypotheses about the formation of owners’ corporations in high‐density private housing estates in Hong Kong within the context of Mancur Olson’s group theory. The findings do not reject the theory, revealing that it is more likely for an older urban estate with fewer owners to form owners’ corporations. The discussion includes a brief introduction to Olson’s group theory and the development of the probit analysis. Some speculative thoughts about public participation in local level urban management and planning are offered in the conclusion.

Looks at consumer research in Greater China including Mainland China, Hong Kong and Taiwan. Maps out the contributions within this area and guides future research. Examines the state of the art over the 1979‐97 period, with particular emphasis on the topics that have been researched, the extent of the theory development in the field and the methodologies used in conducting research. Uses content analysis to review 75 relevant articles. Suggests that, while a considerable breadth of topics have been researched, there remains much to be done, there is further room for theoretical development in Chinese consumer behaviour studies; and the methodologies used need improvement and further refinement.