Schulte, Kai‐Magnus; Dechant, Tobias; Schaefers, Wolfgang - In: Journal of European Real Estate Research 4 (2011) 3, pp. 185-224
Purpose – The purpose of this paper is to investigate the pricing of European real estate equities. The study examines the main drivers of real estate equity returns and determines whether loadings on systematic risk factors – the excess market return, small minus big (SMB), HIGH minus low...