Inflation has become one of the predominant financial concerns of the late twentieth century. In the late 1970s, public opinion polls ranked inflation as the number one problem in the United States. While the rate of inflation has slowed since the late 1970s, inflation is still present and many...

This study examines the stochastic properties of the commercial real estate wealth indices for three countries (the U.S., Canada, and the U.K.) and for several property types (aggregate, office, retail, and industrial). Each of the indices is tested for a unit root and all series are found to be...

This article seeks to answer why over a nineteen-year period the debt-coverage ratio for commercial noninsured properties averages 1.29. The article applies the corporate liabilities extension of the Black-Scholes option pricing model to the equity valuation of a real estate project. The...

Many corporations own a significant amount of real assets and this includes real estate. However, the effect of real asset ownership on the risk and return for a firm’s stockholders is unknown. This study attempts to ascertain the effect, if any, of corporate real asset ownership on the...

Most previous studies of REIT-securitized real estate examine the performance of REITs versus only common stocks. In addition, previous studies have focused on the mean and standard deviation of returns, while this study also examines skewness, kurtosis, and conducts several tests of normality...

The short-term health and, more importantly, the long-term survival of businesses depends on their adaptability to changing economic environments. Real estate brokerage firms are no exception to this evolutionary rule. Furthermore, recent years have seen an acceleration in the rate of economic...

Private sector investors, as well as public sector policy analysts and consumers, need accurate historical estimates of returns for single-family houses. In addition, researchers need such data to understand capital flows and supply/demand relationships among asset classes. Unfortunately, such...

Inflation and inflation cycles have been a major underlying reason for the financial successes and failures of real estate investors in recent history. These cycles have complex impacts on cash flow variables and thus on real estate returns and investment values. This study presents a decision...

The proportion of a city's local and regionally/nationally supported office employment changes as the city assumes more central place functions. Certain mixes of office employment should reflect the central place function of the city and promote office growth. Forty-five cities are studied using...

This study examines the wealth effect of international versus domestic real estate joint ventures on the U.S. participating firm's shareholders. This is done using traditional even study methodology for real estate joint venture announcements. The results suggest that domestic real estate joint...