Investor Protection in the Real Estate Investment

Investor Sentiment and Commercial Real Estate Valuation

This paper investigates the role of fundamentals and investor sentiment in commercial real estate valuation. In real estate markets, heterogeneous properties trade in illiquid, highly segmented and informationally inefficient local markets. Moreover, the inability to short sell private real estate restricts the ability of sophisticated traders to enter the market and eliminate mispricing. These...

Do Real Estate Shocks Affect Corporate Investment?

Investor Protection , Diversification , Investment , and Tobin ’ s q ∗

We develop a dynamic incomplete-markets model where an entrenched insider, facing imperfect investor protection and non-diversifiable illiquid business risk, makes interdependent consumption, portfolio choice, expropriation, corporate investment, ownership, and business exit decisions. Unlike in the first-best, the insider’s tradeoff between private benefits and under-diversification costs lead...

Integration And Segmentation In European Investment Services Markets: Assessing The Implications For International Real Estate Investment

Real Estate Investment in Taiwan - an Examination of the Recent Opening of Real Estate Markets to Foreign Entities

In hope to revitalize the slumping real estate markets and sluggish economy, the government of Taiwan, Republic of China, has recently opened up direct real estate investment opportunities to foreign entities. In conjunction with the joining of WTO, Taiwan hopes that foreign funds and maybe even investment from Mainland China will infuse capital and uplift the markets. Nevertheless, the potenti...