This paper is one of the first empirical studies to investigate the impact of property management on the market value of a building. The outsourcing institute estimates that the real estate service industry has a total value of more than 340 billion dolalr. Within this industry property...

We study the drivers of executive compensation in the listed UK property sector. The United Kingdom provides an excellent opportunity to analyze executive compensation due to high transparency in the different components of executive compensation. We show that company size is the most important...

Research report on the economic rationale for the creation of an EU REIT structure. The current landscape of structure for property vehicles in Europe is a patchwork of regimes, all with different legal rules and regulations. This leads to distortion of competition, inefficient allocation of...

This paper examines the inflation hedging capacity of the private home. We employ a unique set of long-term data for house prices, rents, and inflation for Amsterdam dating back to 1814. We analyze inflation protection using various methodologies, time periods, and investment horizons. Our...

In this paper we explore corporate real estate ownership internationally. Based on a sample of 4,636 companies from 18 industries and 9 countries we document distinct patterns and trends in the corporate ownership level of real estate. Real estate ownership appears to be driven by industrial...

This paper concerns the dilemma whether regulators should preclude tax-exempt property investment companies from engaging in property development activities. We analyze the economic effects of combinations of property investment and property development by looking at the performance of an...

This paper investigates the underpricing and long-run performance of Initial Public Offerings (IPOs), using a unique sample consisting of 54 British, French and Swedish property companies, which became publicly listed during the period 1984-1999. Similar to common stock IPOs, the European...

For the individual, the pension is part of the investment portfolio, and should, therefore, be analyzed in the context of that portfolio. Individual asset portfolios often deviate far from the market portfolio composition. Consequently, individuals run unwanted specific risk. If pension funds...

A further generalization of the international version of the Arbitrage Pricing Theory is presented in this paper. The traditional model of Solnik (1983) and the modification by Ikeda (1991) are extended in such a way that the factor structure of assets and exchange rates are numeraire...

This paper investigates whether a continental factor in real estate returns exists. To this end, a numeraire independent form of principal component analysis is used to see if real estate returns for countries within a continent move together. The methodology is applied on return indices of...