Asset allocation versus entrepreneurial decisions in real estate investment

Measuring Corporate Real Estate Asset Management Performance

It is difficult to measure relative corporate real estate asset management performance, as different organizations require different outputs from their property assets. However, prior research has identified a number of input factors or dimensions relating to corporate real estate that tend to occur together in organizations exhibiting high levels of performance. This paper proposes a methodolo...

Asset Prices and Real Investment

This paper analyzes the links between the firms investment technology and financial asset prices within a general equilibrium production economy. The model assumes that real investment is irreversible and subject to convex adjustment costs. It shows how these basic features of real investment naturally generate rich dynamics of stock returns. Firm investment activity and firm characteristics, p...

Asset Acquisition Criteria: A Process Tracing Investigation into Real Estate Investment Decision Making

Choosing the right investment option by a fund manager or analyst is the first step that contributes to the overall performance of any portfolio of assets. The decision making process is complicated. Markowitz portfolio theory (1952, 1959) laid the theoretical foundations for asset selection and management. However the decision maker is influenced by parameters outside the realm of financial th...

Do Real Estate Shocks Affect Corporate Investment?

Asset allocation decisions of mutual fund investors

I extend the Warther (1995) evidence to show that stock market returns are related to contemporaneous flows into mutual funds that invest in risky stocks and bonds, but are unrelated to flows into funds that invest in safer stocks and bonds. I examine whether common sources of predictability in returns and flows can explain this contemporaneous relation. I find that variables with predictive ab...