Pattitoni, Pierpaolo; Petracci, Barbara; Spisni, Massimo - In: Applied Economics Letters 20 (2013) 2, pp. 194-198
Using a unique hand-collected data set that comprises the 2009 balance sheets of all Italian listed Real Estate Investment Trusts (REITs), we test whether Net Asset Value (NAV) discount can be explained by expert assessor overestimations. Our results suggest that expert assessors make...
