Download or read book Three Essays on Real Estate Investment Trusts written by Yan Lin and published by . This book was released on 2004 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Real Estate Investment Trust Return and Risk written by Chiuling Lu and published by . This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Real Estate Investment Trusts and Financial Markets written by David W. Durr and published by . This book was released on 1998 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three essays on real estate finance written by Xiaolong Liu and published by Rozenberg Publishers. This book was released on 2010 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Initial Public Offerings and Real Estate Investment Trusts written by Sandra F. Holsonback and published by . This book was released on 2003 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Initial Public Offerings (IPOs) are financial vehicles whereby firms can raise capital through public markets. These vehicles increased in importance in the 1990's when financial institutions were reluctant to lend money, especially to young or unestablished firms. Private real estate companies, hampered by these tight credit markets, formed Real Estate Investment Trusts (REITs), a public entity. REIT IPOs trade on the same markets and are subject to the same SEC regulations as equity stocks, but the lack luster behavior of their initial stock offerings is opposite to large initial day returns exhibited by equity stocks. In proposing that underpricing is a strategy utilized by the firm and the underwriter, this study, comparing IPOs of four industries: retail, manufacturer of communication equipment, software development, and REITs, validates the theory of asymmetric information, whereby investors are compensated for risk through underpricing.

Download or read book Towards a Better Understanding of Stocks Interest Rate Derivatives and Real Estate Investment Trusts written by Bing Han and published by . This book was released on 2002 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays in Real Estate Finance written by and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis is a continuation to a large research agenda investigating how market frictions affect residential and commercial real estate markets and offers a more comprehensive study on two recent observations in U.S.: the foreclosure spillover effect in residential housing market and the increased Real Estate Investment Trusts (REITs) return volatility in commercial real estate market. Central to the concerns about the tremendous foreclosure wave since 2006 is that such incidents may impose negative externalities on neighborhood properties, and on the wider community. A large literature has documented that a foreclosed home depresses neighboring property prices. However, few studies attempt to explain why such a contagion effect exists. Utilizing a novel capital expenditure dataset and an improved test design, I demonstrate that foreclosures spread over through the following channels: (1) individual homeowners cut capital expenditures when home prices fall and the likelihood of foreclosure increases, which results in a lower neighborhood amenity; (2) the reduction in capital expenditure generates a negative externality by providing other homeowners a disincentive to spend money on home improvement; (3) under-investment deteriorates home quality and brings down home prices; and (4) the decline in property prices further worsens the under-investment problem and completes a feedback loop. To understand the exacerbated REITs return volatility, I use the following two new approaches. The first approach investigates the impact of asymmetric transaction costs on return dynamics in public and private real estate markets and validates model propositions with simulation and empirical tests. It proposes that trading volume moving from private market to listed market and more volatile underlying asset value at down time contribute to high volatility. The second approach studies the impact of firm level economic activities, financial leverage and market risk on REITs volatility, using U.S equity REITs data from 1995 to 2009. The findings uncover the following channels for recent increase in REIT return volatility: (1) REITs firms become more leveraged over time; (2) REITs' beta values and market return volatility increase in the crisis; (3) Economic activities, such as cash flow news and discount rate news, positively affect REIT return volatility. Among these factors, increasing beta is the most influential contributor.

Download or read book Three Essays in REIT Corporate Finance written by Zhonghua Wu and published by . This book was released on 2006 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Equity REITS Cost of Capital written by Iskandar Aditya Arifin and published by . This book was released on 2013 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Real Estate Investment Trusts written by Jiajin Chen and published by . This book was released on 2015 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance of Real Estate Investment Trusts written by Nicolai C. Striewe and published by Springer. This book was released on 2015-11-10 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nicolai C. Striewe analyzes potential opportunistic behavior of REIT managers and provides empirical evidence on the effectiveness of institutional monitoring as a corporate governance mechanism. The author also suggests ways to promote sustainable management by means of institutional participation. The results of his study provide valuable insights to enhance corporate governance, transparency and efficiency in the REIT market. They encourage (a) academics to include a behavioral component into studies of the REIT market, (b) REIT managers to incorporate effective monitoring and control mechanisms, (c) investors to become more aware of agency conflicts in REITs and (d) policy makers to facilitate a legal framework conducive to a sustainable REIT market.

Download or read book Getting Started in Real Estate Investment Trusts written by Richard Imperiale and published by John Wiley & Sons. This book was released on 2006-10-06 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: EVERYTHING YOU NEED TO KNOW ABOUT REITS GETTING STARTED IN REAL ESTATE INVESTMENT TRUSTS Real Estate Investment Trusts (REITs) offer small investors the chance to participate in a broad range of real estate opportunities across most major property sectors and geographic locations. But to make the most out of this proven investment vehicle, you must first gain a firm understanding of it. Getting Started in Real Estate Investment Trusts provides an accessible introduction to the benefits and performance characteristics of REITs and examines the role they play in a well-diversified investment portfolio. Divided into three comprehensive parts, Getting Started in Real Estate Investment Trusts covers a wide variety of issues within this field, including: * The legal and financial history of REITs * How REITs behave as an investment class and how they are best integrated into an investor's portfolio * The fundamental economic issues that affect real estate and how they impact REITs * Specific methods for analyzing REITs as an investment * Different types of REITs: residential, office, industrial, retail property, and more Filled with in-depth insight and practical advice, Getting Started in Real Estate Investment Trusts is a valuable road map to an investment that can help stabilize and grow your portfolio for years to come.

Download or read book Essays on Real Estate Investment Trusts written by Juan Carlos Cardona Castro and published by . This book was released on 2013 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 40 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 Global Real Estate Investment Trusts written by David Parker and published by John Wiley & Sons. This book was released on 2012-01-17 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: As real estate investment trusts continue to grow exponentially in Asia and Europe - being already well established in the USA and Australasia - a comprehensive guide to the issues involved in REIT property investment decision making is badly needed. This book draws together the most recent developments in REIT management from academic research and professional practice. It is based on current, original academic research, including structured interviews with the managers of a wide range of different types of REITs as well as the research and publications of others, together with the author's 25 years experience in REIT management. It provides a theoretically robust and practically relevant up to date guide to the property investment decision making process for REITs. Presenting new insights, the author breaks the REIT property investment decision making process down into three phases comprising six stages with 30 sequential steps. Each chapter focuses on one stage of the property investment decision making process and introduces the key people in the REIT management team relevant to the activities in that chapter. The theory and principles are considered and illustrated by application to Super REIT, a $15bn diversified REIT. Global Real Estate Investment Trusts: People, Process and Management fuses not only how REITs should undertake property investment decision making - based on how it is undertaken and the underlying property theory, capital market theory and finance theory - but also why each part of the decision making process is important. This book provides the first sole-authored scholarly work specifically on REITs as a business enterprise and REIT property investment decision making as an holistic and cyclical process. The focus is on principles, making it relevant in each of the four major REIT markets around the world: USA, Europe, Asia and Australasia. An essential book for REIT managers and all those practising professionals involved in the REIT industry - including property practitioners, researchers, lawyers, accountants, bankers and directors around the world.

Download or read book Real Estate Investment Trusts written by United States. Securities and Exchange Commission. Office of Economic Research and published by . This book was released on 1975 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on the Capital Structure of Real Estate Investment Trusts written by Eva Maria Steiner and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: