Bond, Shaun A; Patel, Kanak - In: The Journal of Real Estate Finance and Economics 26 (2003) 2-3, pp. 319-39
Previous research has shown that the returns on individual properties and listed property securities are skewed. This claim is investigated in the context of listed U.K. property companies and U.S. REITs. In particular, the shape of the conditional distribution of total monthly returns is...