This book features a selection of the best papers presented at two recent conferences organized by the SIEV (Italian Society of Appraisal and Valuation). Taking into account the current need for evaluative skills in order to make effective and sustainable investments, it highlights the...

Gaston Michel investigates whether shocks to real estate markets constitute an important source of the risk that is priced in the cross section of equity returns. His results document that real estate risk explains a large part of the cross-sectional variation in equity returns. He shows that an...