Cannon, Susanne Ethridge; Vogt, Stephen C. - In: Journal of Real Estate Research 10 (1995) 3, pp. 297-318
This study examines possible agency problems in Real Estate Investment Trusts (REITs) by contrasting the performance, structure, and compensation of the two REIT forms from 1987 to 1992. Results show that "self-administered" REITs outperformed "advisor" REITs over the sample period even after...