, (2) competitive risk-adjusted performance, and (3) significant portfolio diversification potential in a mixed … due to the shifting preference towards investment vehicles that position higher on the risk-return curve. Non-listed value …

This paper re-examines the performance of REITs, stocks, and fixed-income assets based on the preferences of risk …-averse and risk-seeking investors using mean-variance and stochastic dominance approaches. Our findings indicate no first … order to maximize their expected utility, the risk-averse prefer fixed-income assets over real estate, which, in turn, is …

diversification is not an easy task as it is impacted by a huge number of different factors: the way systematic risk is measured, the … of the asset features, the model adopted to measure diversification (i.e., equally weighted versus optimal allocation …

Understanding risk-adjusted returns in real estate investment are crucial, but little is known about the risk …-adjusted returns for direct real estate. This paper examines risk-adjusted total returns by developing an extended capital asset … pricing model (CAPM) to investigate whether direct real estate returns compensate for their risk levels. Based on a panel …

This paper studies the relationship between portfolio diversification and fund performance, based on an unexplored … focus. Our results suggest that diversification within, but not across industries, associates with higher buyout fund … performance. We do not find a significant relationship between geographical diversification and performance. These results partly …

For a financial portfolio, we suggest a realized measure of diversification benefits, which is based on intraday high … diversification measure and realized portfolio weight. The performance of our approach is evaluated in-sample and out-of-sample. We …