| 摘要 | 第1-15页 |
| Abstract | 第15-17页 |
| Chapter 1 Introduction | 第17-20页 |
| ·Research background | 第17-18页 |
| ·Thesis framework | 第18-20页 |
| Chapter 2 Literature Review | 第20-27页 |
| ·The development of investment portfolio theory | 第20-22页 |
| ·Real Estate Investment Trusts | 第22-24页 |
| ·Research results on real estate investments | 第24-27页 |
| Chapter 3 Investment Portfolio Theories | 第27-36页 |
| ·The Markowitz Mean-Variance Model | 第27-31页 |
| ·Assumptions | 第27页 |
| ·Expected rate of return and variance of a single asset | 第27-28页 |
| ·Covariance and correlations | 第28-29页 |
| ·Expected return and variance of a investment portfolio | 第29-30页 |
| ·The efficient frontier and optimal portfolio | 第30-31页 |
| ·Capital Asset Pricing Model | 第31-34页 |
| ·Arbitrage Pricing Theory | 第34-36页 |
| Chapter 4 Application of investment portfolio theory in real estate field | 第36-43页 |
| ·Categories of real estate | 第36-37页 |
| ·Real estate investment strategies | 第37-38页 |
| ·Location diversification strategy | 第37页 |
| ·Category diversification strategy | 第37-38页 |
| ·Purpose differentiation strategy | 第38页 |
| ·Time horizon strategy | 第38页 |
| ·The portfolio selection and management process | 第38-39页 |
| ·The process of the empirical research | 第39-43页 |
| Chapter 5 Empirical research in China | 第43-54页 |
| ·Data selection | 第43-44页 |
| ·Data processing | 第44-45页 |
| ·Distribution test | 第45-49页 |
| ·Correlation analysis | 第49-50页 |
| ·Investment portfolio establishment | 第50-54页 |
| Chapter 6 Empirical research in Italy | 第54-64页 |
| ·Data selection | 第54-55页 |
| ·Data processing and description | 第55-56页 |
| ·Distribution test | 第56-59页 |
| ·Correlation analysis | 第59-60页 |
| ·Investment portfolio establishment | 第60-64页 |
| Chapter 7 Comparative analysis on the diversification strategies | 第64-69页 |
| ·Location diversification in houses | 第64-65页 |
| ·Location diversification in offices | 第65-66页 |
| ·Category diversification | 第66-69页 |
| Chapter 8 Conclusion | 第69-74页 |
| ·Research results analysis | 第69-71页 |
| ·Investment decision analysis | 第71-72页 |
| ·Investment suggestions | 第72-73页 |
| ·Limitations and future research directions | 第73-74页 |
| Reference | 第74-76页 |
| Appendix | 第76-86页 |
| 1.DTZ Chinese Mainland Index(1993Q3=100) | 第76-79页 |
| 2.Actual Prices and Rents for Six Cities(Unit:RMB) | 第79-81页 |
| 3.Annual Returns of Office and House in China | 第81-83页 |
| 4.Selection of Nomisma data for Italy(Unit:EUR) | 第83-85页 |
| 5.Annual Returns of Office and House in Italy | 第85-86页 |
| Acknowledgements | 第86-87页 |
