ERES:conference

ERES:conference

We study the effects of demographic changes on the global office markets. Growth in the labor force, the ultimate driver of office demand, is slowing down in some countries and is contracting in others. Based on demographic forecasts, we then formulate expectations about the future shape of the...

This paper studies the value added arising from the skills of active real estate portfolio managers by exploring a database of listed property companies for Australia, the United Kingdom and the United States. We develops three indicators of portfolio management intensity, and investigates...

Real estate has been at the forefront of the financial crisis, with the intransparency of securitized products, such as MBS, CMBS, and CDOs, playing a critical role. Real estate equity investments have received less attention during the crisis. Listed property companies (REITs) offer an...

ERES:conference

ERES:conference

We conduct a quantitative study to explain why firms lease commercial office space in buildings with a green label ñ as this implies paying a rental premium. Based on a literature review, we construct a theoretical framework of drivers underlying corporate social responsibility. We formulate...

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...

The effects of overconfidence have been mainly investigated investorsí decisions regarding stock portfolios, and far less so the decisions of managers at corporations. The few exceptions that do investigate the effect of behavioral biases within a corporate setting include most notably the...