MILLER, STEPHEN M.; CLAURETIE, TERRENCE M.; SPRINGER, … - In: Manchester School 74 (2006) 4, pp. 483-499
This paper extends the existing research on real estate investment trust (REIT) operating efficiencies. We estimate a stochastic-frontier, panel-data model specifying a translog cost function, covering 1995-2003. The results disagree with previous research in that we find little evidence of...