Federal Regulation of Real Estate Investment Trusts: A Legislative Proposal

CROSS LISTING OF REAL ESTATE INVESTMENT TRUSTS (REITs)

The Financial Rewards of Sustainability: A Global Performance Study of Real Estate Investment Trusts

This study shows for the first time, that investing comprehensively in sustainability as measured by the GRESB rating) pays off for REITs by enhancing operational performance and lowering risk exposure and volatility. Analyzing a sample of REITs from North America, Asia and Europe for the 2011-14 time period, it also appears that there is a great deal of untapped potential, particularly in the ...

The Role of Corporate Governance in Initial Public Offerings: Evidence from Real Estate Investment Trusts

This study analyzes the impact of corporate governance structures at the initial public offering (IPO) date. We test hypotheses that firms with more shareholder-oriented governance structures receive higher valuations at the IPO stage and have better long-term performance. Our sample is a set of 107 IPOs of real estate investment trusts (REITs) between 1991 and 1998. Using a single industry and...

Institutional investors as monitors of corporate diversification decisions: Evidence from real estate investment trusts

☆ Wewould like to thank an anonymous referee, Jeff and the participants at the 2010 American Real Estate Real Estate Investment Trusts, and the 2010 UC Irvine A research associate of the NBER and an advisor to Gers ⁎ Corresponding author at: Department of Finance, E-mail address: [email protected] 1 Lewellen (1971) discusses the coinsurance effect problems around equity offerings....

The Effect of Geographic Diversification on the Returns of Real Estate Investment Trusts

In analyzing the effect of geographic diversification on the risk and volatility of real estate returns, past studies have suffered from several flaws. They have been performed on ex post portfolios constructed from a larger sample of properties, they have used appraisal-based return series, and the geographic regions analyzed did not bear any relation to the economic characteristics which unde...