Real Estate Finance
نویسندگان
چکیده
منابع مشابه
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...
متن کاملSpatial Statistics Applied to Commercial Real Estate
Portfolio theory shows that diversification can enhance the riskreturn trade-off. This study uses the absolute location of commercial real estate property along with spatial statistics to address the inherent problem of determining geographical diversification based upon a set of economic and property-specific attributes, some of which are unobservable or must be proxied with noise. We find tha...
متن کاملInstitutional 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....
متن کاملResidential Rental Real Estate: an Investment in Need of a Theory
Keywords: Capital asset pricing model (Capm) Capital asset pricing theory Finance theory Hedonic pricing Portfolio theory Residential rental real estate investment (RRREI) Security market line Systematic/unsystematic risk
متن کاملRegime Shifts in Asian Equity and Real Estate Markets
The recent Asian financial crisis has emphasized the volatility of modern financial markets. This crisis, and other recent financial shocks, suggest that returns may switch regimes: that is, randomly change from one distribution to another. This paper analyzes regime shifts in real estate and equity markets in ten Far Eastern countries, focusing on the period 1994 1998. We find little evidence ...
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