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In this study, we provide new evidence on the performance measurement and reporting of commercial real estate returns. We do so by examining the accuracy of commercial real-estate appraisals that occurred prior to the sale of properties from the NCREIF National Property Index (“NPI”) during...
Persistent link: https://www.econbiz.de/10013093516
In October of 2002, the Simon Property Group made a hostile takeover bid for Taubman Centers, a bid that the financial press widely reported as the first significant hostile takeover attempt in the U.S. REIT industry. As such, this event provides a natural experiment for estimating the value of...
Persistent link: https://www.econbiz.de/10012726207
In this study, we present new panel-data evidence on REIT liquidity and its determinants over the 1988-2007 period. We focus upon liquidity measures that do not require micro-structure data (1) to facilitate use of our results as benchmarks for comparisons with results from international markets...
Persistent link: https://www.econbiz.de/10012753337
Persistent link: https://www.econbiz.de/10009029804
In this study, we present panel-data evidence on REIT liquidity and its determinants over the 1988 – 2007 period. We focus upon liquidity measures that do not require micro-structure data (1) to facilitate use of our results as benchmarks for comparisons with results from international markets...
Persistent link: https://www.econbiz.de/10008615006