Download or read book IPOs and SEOs in the US Real Estate Industry written by Philip Radner and published by Springer. This book was released on 2017-01-20 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Philip Radner analyzes equity financing phenomena and researches IPO underpricing and SEO announcement effects using data sets for US REITs. Moreover, he discusses underpricing theories and their applicability in the REIT context and gives a theoretical background on IPOs and on underpricing in particular. With this background at hand, the results out of this dissertation imply to focus on the wording in IPO documents as it can help to maximize IPO proceeds. In addition, he analyzes how to better time and announce subsequent equity financing events. It is expected that significantly underpriced issues attract more investors and that subsequent SEOs are then easier to conduct and typically raise more capital.
Download or read book Real Estate Investment Trusts written by Su Han Chan and published by Oxford University Press. This book was released on 2002-11-07 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book offers broad understanding and unique insights into the REITs industry. Its scope is to analyze and synthesize the existing scholarly research on REITs in a way that will enable managers to improve their investments decisions and the operating performance of their REITs. It also provides up-to-date original research on REITs based on the authors' own database, which is the most extensive data base available on REITs that is free of suvivorship bias. This book helps investors evaluate REITs and identify those with the greatest investment potential. Finally, it provides the reader with a detailed discussion of likely future changes anticipated for this unique invetment vehicle.
Download or read book US Real Estate Markets Analysis and Investment Opportunities Yearbook Volume 1 Strategic Information and Important Regulations written by IBP USA and published by Lulu.com. This book was released on 2006-01-07 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Issues in Banking and Financial Markets 2011 Edition written by and published by ScholarlyEditions. This book was released on 2012-01-09 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues in Banking and Financial Markets / 2011 Edition is a ScholarlyEditions™ eBook that delivers timely, authoritative, and comprehensive information about Banking and Financial Markets. The editors have built Issues in Banking and Financial Markets: 2011 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Banking and Financial Markets in this eBook to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Issues in Banking and Financial Markets: 2011 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.
Download or read book Empirical Evidence on IPO Underpricing written by Marius Hamer and published by GRIN Verlag. This book was released on 2007-06-20 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2007 in the subject Business economics - Investment and Finance, grade: 1,3, European Business School - International University Schloß Reichartshausen Oestrich-Winkel, 80 entries in the bibliography, language: English, abstract: This paper aims at establishing a link between the average level of initial return of IPO shares, existing underpricing explanations and the dot-com bubble. In years prior to the boom of the new economy, underpricing was explained by various theories, which have extensively been developed since decades. However, in the years 1998 to 2001 IPOs were overly underpriced, leading to assumptions about behavioural aspects and investor irrationality. Analysing a comprehensive dataset of 371 IPOs on the Frankfurter Börse between 1997 and 2007, this paper aims at providing evidence that the observed lower levels of initial returns in recent years can indeed be aligned with existing theories on the basis of rational behaviour of market participants. Firstly, the IPO process and its major participants will be presented followed by a review of relevant studies on the IPO phenomenon. In the next step, established underpricing theories are recapitulated. A descriptive analysis of the data sample points out the particularities concerning the company and transaction characteristics of the sample firms. In a last step, a regression analysis relates various proxies for information asymmetry to established underpricing theories. It gives reason to believe that the irrationality at the turn of the century has vanished and that underpricing can again be explained by established theories.
Download or read book An Empirical Investigation of the Role of Legal Origin on the Performance of Property Stocks Within the Context of a Tactical Asset Allocation Strategy written by Christopher Shun and published by Universal-Publishers. This book was released on 2005-07-06 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of legal origin was first introduced in the Law and Finance Literature by La Porta et al. (1997) in an original study of legal determinants of external finance. Their study is timely given that investor protection is crucial because in many countries, expropriation of minority shareholders and creditors by controlling shareholders or corporate insiders is extensive. This dissertation intends to replicate the original La Porta et al. (1997) study for Property stocks in 23 countries whose legal jurisdictions falls into the four of the legal fraternities established by La Porta namely, English, French, German and Scandinavian. The primary motivations for this thesis, is that the Property stocks broadly captures several critical aspects of the original La Porta study. Specifically, Property stocks are very tangible assets that can easily be collateralised due to the direct property underpinning the net asset backing of Property stocks. The end result of this research endeavour is to provide a framework for institutional portfolio investors to determine the appropriate countries whose real estate markets have the most favourable investor climate to facilitate a more attractive environment for institutional investors given the Means Variance Optimisation (MVO) methodology. A tactical asset allocation strategy will be employed to determine the three stages that a global investor should undertake to arrive at the optimum proportions of funds to invest in Common stocks or Real Estate stocks in any country firstly based on an Emerging/Developed country analysis then secondly, a geographic Regional analysis and finally on Legal Origin analysis to distil the appropriate proportions of funds that should be invested. This Dissertation has three original contributions, which are as follows: 1) An Empirical investigation of role of Legal origin on the performance of Real Estate stocks within the context of a tactical asset allocation strategy. This dissertation studies the impact that Developed versus Emerging, Regional markets and Legal Origin jurisdictions have on the results of the optimal MVO portfolios (based on the highest Sharpe ratio) and presents the research findings of this study, at the Primary, Secondary and Tertiary levels. This dissertation is envisaged to fill the research gap between legal origin and the performance of Property stocks across four legal fraternities in 23 countries and make an original contribution in the Law & Finance and Portfolio Management Literature. 2) ACTIVE (Ex-Ante) versus PASSIVE (naïve) portfolio management strategy. The original contribution is the application of this methodology to property stocks specifically within a Legal Origin and Regional market framework. Data is collated from 1984 to 2003 (20 years inclusive) from 23 countries with specific reference to the Common and Real Estate stocks markets therein. A 5 year rolling Ex-Post analysis is computed to determine the optimum allocation weights in a multi-asset portfolio and subsequently an Ex-Ante analysis (next immediate year) of the portfolio weights applied to an Actively managed portfolio. This portfolio will be compared with actual portfolio performance from 1989 to 2002 (fifteen subsequent years) to determine whether the Ex-ANTE methodology which underpinned the Active management strategy is preferred over a Passive (equal investment in each asset class) strategy for real estate stocks portfolio management. The Ex-Ante analysis will be undertaken at two stages: Firstly, Legal Origin markets and Secondly, Regional markets. 3) A replication of the Gordon et al. (1995) study which determined the appropriate percentage based on the Markowitz Portfolio Theory (MPT) that should be invested in the Real Estate stock markets in 14 countries. The original contribution is the application of Gordon s methodology to the Legal Origin markets proposed by La Porta et al. (1997). This research study encompasses 23 c
Download or read book Real Estate Investment Trusts written by Su Han Chan and published by Financial Management Association Survey and Synthesis. This book was released on 2003 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work provides the investing public, real estate practitioners, regulators and real estate and finance academics with up-to-date information on what modern scholarly research tells us about Real Estate Investment Trusts (REITs). REITs are credited to allow institutional and individual investors to invest in real estate via a corporate entity. The increasing interest in REITs as indicated by their growth in market capitalization and institutional holdings in the United States and around the world suggests that REITs are becoming an increasingly important part of investors' diversified portfolio.
Download or read book Stocks Real Estates Investment written by Otto Elliott Chen and published by Independently Published. This book was released on 2024-02-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book in your hands is about the global real estate market from the perspective of the stock market. It will take you deep into the development and trends of the real estate industry, as well as how to invest in real estate companies and products within the stock market. Real estate is a crucial sector that influences the global economy and society. It serves not only as spaces for living and working but also as a tool for wealth and investment. Changes in the real estate market reflect people's needs and preferences, influenced by political, economic, and technological factors. Therefore, understanding the dynamics and patterns of the real estate market is meaningful and valuable for anyone concerned about themselves and society. The stock market is a vital platform reflecting the global economy and society, serving as a place for communication and collaboration between companies and investors, as well as a source of innovation and competition. Changes in the stock market reflect the performance and value of companies, influenced by factors such as policies, interest rates, and risks. Therefore, understanding the rules and strategies of the stock market is meaningful and valuable for anyone seeking to increase their income and wealth. This book, from the perspective of the stock market, introduces the overview and characteristics of the global real estate market. It covers the introduction of real estate companies, policies, and regulations related to investing in real estate companies in the European and American stock markets, as well as the enterprises and investors in the real estate industry and strategies and methods for real estate investment. This book will help you understand the opportunities and challenges in the real estate market and guide you on how to choose and invest in companies and products related to real estate within the stock market. This book is suitable for any reader interested in real estate and the stock market, whether you are a beginner, an expert, a homeowner, an investor, a scholar, a journalist, or a policymaker. I hope you enjoy and benefit from this book.
Download or read book Information Risk and Long Run Performance of Initial Public Offerings written by Frank Ecker and published by Springer Science & Business Media. This book was released on 2009-02-14 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Frank Ecker examines the performance of U.S. initial public offerings (IPOs) from 1980 to 2002. He links positive and negative abnormal returns to the deviation of the realized information risk from the expected information risk. The author proposes effective measures for a long-term profitable investment strategy in IPOs.
Download or read book Real Estate Investment Trusts and Joint Ventures written by Julian Eibel and published by Springer Nature. This book was released on 2020-10-10 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: Julian Eibel studies the contribution of joint venture (JV) use as means of financing flexibility against the background of diverse financial restrictions in the institutional and regulated environment of the REIT Act. After reviewing JV motives for classical corporations, the real estate and REIT industry as well as the financing and capital behavior of REITs, the author finds JVs to result from REIT managers’ need of financing flexibility to allow timely funding outside regulated markets. Thus, he argues JVs mitigate financing restrictions and stimulate capital markets to regain access to classical financing.
Download or read book Financial Markets written by Jeff Madura and published by . This book was released on 2004 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: Illustrates the progress that has been made in financial markets and assesses innovations that provide solutions to dilemmas and increase efficiency. These articles break down the complex web of relationships between the financial intermediary, the managers of corporations, shareholders, creditors, analysts and regulators.
Download or read book Business Periodicals Index written by and published by . This book was released on 2009 with total page 1920 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Journal of Health Care Finance written by and published by . This book was released on 2008 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Productivity written by and published by . This book was released on 1999 with total page 738 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Two Thousand and Seven Report to Congress of the U S China Economic and Security Review Commission written by U.S.-China Economic and Security Review Commission and published by . This book was released on 2007 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Asialaw Profiles written by and published by . This book was released on 2007 with total page 1412 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book 2007 Report to Congress of the U S China Economic and Security Review Commission November 2007 written by and published by . This book was released on 2008 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt:
