The benefits of openness to trade are well established, but the disadvantages of openness are less well understood. At the firm level trade is the principal source of exposure to exchange rate movements, and exchange exposure can be moderated by a range of hedging techniques. In this paper we...

This paper examines the distributional characteristics of REITs using the daily NAREIT indices for the period 1997-2004. While previous studies have examined the distributional properties of REITs, they have largely used lower frequency monthly data. This paper has two primary aims. Firstly, it...

S<sc>tevenson</sc> S., A<sc>kimov</sc> A., H<sc>utson</sc> E. and K<sc>rystalogianni</sc> A. Concordance in global office market cycles, <italic>Regional Studies</italic>. A large proportion of international real estate investment is concentrated in the office markets of the world's largest cities. However, many of these global cities are also key...

The benefits of openness to trade are well established, but the disadvantages of openness are less well understood. At the firm level trade is the principal source of exposure to exchange rate movements, and exchange exposure can be moderated by a range of hedging techniques. In this paper we...

In this paper, we consider how trading volume impacts the first three moments of real estate investment trust (REIT) returns. Consistent with previous studies of the broader stock market, we find that volume is a significant factor with respect to both returns and volatility. We also find...

A large proportion of international real estate investment is concentrated in the office markets of the world's largest cities. However, many of these global cities are also key financial services centres, highlighting the possibility of reduced economic diversification from an investor's...