Khoo, Terence; Hartzell, David; Hoesli, Martin - In: Real Estate Economics 21 (1993) 2, pp. 107-130
The betas on equity real estate investment trusts (EREITs) have undergone a structural shift in the past 20 years. We show that this is the result of the lower variability of EREIT returns and argue that the decrease in the standard deviation of EREIT returns can be attributed to the increasing...
