Most previous empirical studies on foreclosure price discounts are based on data from housing-markets during periods of relative stability (Baton Rouge, Louisiana; Arlington, Texas; and Las Vegas, Nevada in 1980s and 1990s). The few studies with sample periods containing the Liquidity Crisis of...

In the present article determinants of residential real estate prices are empirically estimated. The study is based on actually recorded, anonymous transactions data collected for the city of Muenster from 1999 to 2009. The observations include single-family houses, semi-detached houses,...

This study compares the valuation of REITs and non-REITs, using firm-level return and accounting data of 168 REITs and 3,215 industrial companies and the methodology of Vuolteenaho (2002) that separates variances driven by cash flow news and expected return news. The evidence shows that,...

When the estimation of the single equation multiple linear regression model is looked upon as an optimization problem, we show how the principles and methods of optimization can assist the analyst in finding an attractive prediction model. We illustrate this with the estimation of a linear...