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Real Estate Economics articles from March 2005
This journal publishes articles on real estate related topics, including covering homes loans and economic reports for developers, builders, finance companies or homeowners.
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Real Estate Economics archives from March 2005
Introduction to the special issue.(about stock prices in real estate industry)
March 22, 2005... This special issue of Real Estate Economics (REE) includes eight papers on various aspects of REIT security pricing. All papers went through the usual refereeing and editorial process, and all reflect REE's ongoing commitment to advance the...
Asset pricing information in vintage REIT returns: an information subset test.(Real Estate Investment Trust )
March 22, 2005... REIT return data prior to the new REIT era offer important asset pricing information. At issue is whether empiricists should focus attention on returns series covering only the new period. We use a generalized asset pricing and information...
The role of the underlying real asset market in REIT IPOs.(Real Estate Investment Trust)(Initial public offerings)
March 22, 2005... A leading explanation for IPO cycles is time-varying supply and demand for the underlying assets of the firms that are considering going public. We test this hypothesis using REIT IPOs, taking advantage of the relative transparency of the...
REITs, IPO waves and long-run performance.(Real Estate Investment Trust)(initial public offerings)
March 22, 2005... The real estate investment trust (REIT) industry has undergone three waves of initial public offerings (IPOs) since 1980. In this article we examine these waves within the context of the general IPO wave literature. We note that the unique...
Changes in REIT structure and stock performance: evidence from the Monday stock anomaly.(Real Estate Investment Trust)
March 22, 2005... It is well documented that REITs in the 1990s experienced significant changes in their structure and attracted greater institutional participation. This article finds that REIT stocks with higher institutional holdings perform better on Monday...
Privately versus publicly held asset investment performance.
March 22, 2005... Classic asset pricing is problematic as a method to assess privately held asset investment performance. We propose an alternative approach that involves adjusting the characteristics of assets constituting an index or portfolio to match the...
Public versus private real estate equities: a more refined, long-term comparison.
March 22, 2005... In this article we compare public and private real estate equities. In so doing, we control for three of the main differences between these investment alternatives: property-type mix, leverage and appraisal smoothing. With these two restated...
An analysis of REIT CEO stock-based compensation.(Real Estate Investment Trust)(chief executive officer)
March 22, 2005... Academic research findings on the determinants of executive compensation are mixed. Some researchers attribute this to the inclusion of stock-based compensation in the more recent studies. We study the determinants of stock-based compensation...
Finance, investment and investment performance: evidence from the REIT sector.(Real Estate Investment Trust)
March 22, 2005... We examine financing, investment and investment performance in the equity REIT sector over the 1981-1999 time period. Analysis reveals significant differences between the old-REIT (1981-1992) and new-REIT (1993-1999) eras. The sector...