We evaluate the economics of financial intermediation in alternative assets by investigating the allocation and performance of pension fund investments in real estate, the most significant alternative asset class for institutional investors. We document substantial heterogeneity in real estate...

The real estate sector accounts for more than a third of global greenhouse gas emissions and thus offers great potential for carbon abatement. Energy efficient and green buildings are rapidly transforming the commercial property sector, and institutional investors can benefit from that...

There is an ongoing debate about the impact of environmental performance on a firm's cost of capital, but most academic studies are hindered by methodological challenges. The real estate sector, which is at the nexus of many environmental and energy issues, offers a laboratory to address the...

We study the drivers of executive compensation in the listed UK property sector. The United Kingdom provides an excellent opportunity to analyze executive compensation due to high transparency in the different components of executive compensation. We show that company size is the most important...

Research report on the economic rationale for the creation of an EU REIT structure. The current landscape of structure for property vehicles in Europe is a patchwork of regimes, all with different legal rules and regulations. This leads to distortion of competition, inefficient allocation of...

We study the external effects of large-scale conventional and renewable electric power generation facilities on local house prices. We compare coal, gas, biomass and wind power, combining information on all power plants and wind turbines in the Netherlands with house price data from 2.3 million...

The senior housing industry provides housing and care services to elderly people who are in need of social support and medical assistance. For the financing and ownership of rented senior residential property, the two structures most used are integrated healthcare companies and healthcare REITs....

We investigate 95 takeovers of property companies all over the world and find that only 2 of those are hostile. To determine the effectiveness of the market for corporate control, we first study characteristics of targets and acquirers compared to a control sample, using the complete global...

In this report, we summarize the results of the first global survey on environmental practices in listed property companies and private property funds. The survey is intended to increase industry awareness and provide information on current environmental management practices. Without detailed...