This article examines the performance of mortgage-backed securities (MBS) mutual funds from January 1987 to June 1995. As a group, the MBS mutual funds underperform both the "Salomon and Lehman Brothers" MBS market benchmarks. The relative underperformance of the MBS mutual funds is due to poor...

We examine the performance of real estate mutual funds during January 1991-December 1997. As a group, the sampled funds outperformed the "Wilshire Real Estate Securities Index" on a risk-adjusted basis by more than 5 percentage points annually. We attempt to explain these surprising findings by...

This paper examines the determinants of industrial properly value. We use the factor-analytic linear structural relations (LISREL) model to confront measurement problems associated with related work. A simultaneous test of the effects on property value of factors summarizing physical property,...

This paper examines the determinants of industrial property value. We use the factor-analytic linear structural relations (LISREL) model to confront measurement problems associated with related work. A simultaneous test of the effects on property value of factors summarizing physical property,...