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Do REITs outperform stocks and fixed-income assets? New evidence from mean-variance and stochastic dominance approaches

Chiang, Thomas C.; Lean, Hooi Hooi; Wong, Wing-keung - In: Journal of Risk and Financial Management 1 (2008) 1, pp. 1-40

This paper re-examines the performance of REITs, stocks, and fixed-income assets based on the preferences of risk …

Persistent link: https://www.econbiz.de/10011843211

An investigation of the moderating effect of liquidity on the relationship between debt and financial performance of REITs in Malaysia: An optimal liquidity estimation

Soedarsono, Slamet; Tugiman, Hiro; Suhardi, Didik - In: Contemporary Economics 13 (2019) 3, pp. 225-238

Numerous studies on Real Estate Investment Trusts (REITs) have claimed that the high dividend payout requirement has … constrained the ability of REITs to use internal earnings and that they have to rely on debt financing to support their funding … requirements. However, there is also some empirical evidence showing that the use of debt by REITs has adverse effects on the …

Persistent link: https://www.econbiz.de/10014544644

Does the regulation change play a role in the dividend policy? Empirical study of REITs

Yang, Jinsuk; Chen, Manfen; Lim, SeungCheol - In: Global Business & Finance Review (GBFR) 24 (2019) 4, pp. 63-75

Persistent link: https://www.econbiz.de/10012286692

Is the rest of the EU missing out on REITs?

Grybauskas, Andrius; Pilinkiene, Vaida - In: European Journal of Management and Business Economics … 29 (2020) 1, pp. 110-122

Purpose The purpose of this paper is to investigate whether real estate investment trusts (REITs) have any significant … envelope analysis (DEA) for 534 firms in the USA, Canada and some EU member states. Findings The results suggest that REITs … REITs have attempted to find out whether a different firm structure displays any differences in efficiency. Because the …

Persistent link: https://www.econbiz.de/10013193228

Dynamic impact of unconventional monetary policy on international REITs

Marfatia, Hardik A.; Gupta, Rangan; Lesame, Keagile - In: Journal of Risk and Financial Management 14 (2021) 9, pp. 1-18

In this paper, we estimate the dynamic impact of unconventional monetary policy in the US on international REITs … with the effects of conventional federal funds rate (FFR) shocks. The results show that the response of international REITs …, FG shocks broadly have a negative impact on REITs while the results for LSAP effects are mixed. We also find that in most …

Persistent link: https://www.econbiz.de/10013201113

Analyst forecasts during the COVID-19 pandemic: Evidence from REITs

Anglin, Paul M.; Cui, Jianxin; Gao, Yanmin; Zhang, Li - In: Journal of Risk and Financial Management 14 (2021) 10, pp. 1-23

better understand how financial analysts forecast earnings. We focus on forecasts for Real Estate Investment Trusts (REITs …) in the United States, since REITs are relatively transparent during normal times, and since the real estate sector, as a … forecast error rises by more, for REITs, when focusing on Hospitality and Industrial properties, and dispersion rises by more …

Persistent link: https://www.econbiz.de/10013201141

Uncertainty due to infectious diseases and forecastability of the realized variance of United States real estate investment trusts: A note

Bonato, Matteo; Çepni, Oğuzhan; Gupta, Rangan; … - In: International Review of Finance 22 (2021) 3, pp. 540-550

(EMVID) for real estate investment trusts (REITs) realized market variance of the United States (US) via the heterogeneous … variance of REITs at short‐, medium‐, and long‐run horizons in a statistically significant manner, with the result being robust … movements, and also carries over to 10 sub‐sectors of the US REITs market. Our results have important portfolio implications for …

Persistent link: https://www.econbiz.de/10013382234

Trading activity in public real estate markets

Richter, Thomas - In: Journal of Risk and Financial Management 15 (2022) 9, pp. 1-12

Trading activity is an important characteristic of financial markets, since it is related to price discovery, volatility, and market liquidity. It is therefore of crucial importance to understand what drives trading activity in real estate markets. Here, we use a panel dataset consisting of 142...

Persistent link: https://www.econbiz.de/10014332575

Empirical analysis of the illiquidity premia of German real estate securities

Paul, Thomas; Walther, Thomas; Küster-Simic, André - In: Financial Markets and Portfolio Management 36 (2021) 2, pp. 203-260

. To this end, we use a unique data set that includes real estate stocks, real estate investment trusts (REITs), and open … important role in expected returns for real estate stocks and investment trusts (REITs); however, it has less clear effects on …

Persistent link: https://www.econbiz.de/10014501427

Too transparent for signalling? A global analysis of bond issues by property companies

Berninger, Marc; Bossong, Paul; Schiereck, Dirk; … - In: Accounting & Finance 63 (2022) 3, pp. 3125-3145

Bond issues often result in negative revaluations of the market value of equity. These market reactions are usually explained by negative signals and asymmetric information about the use of the proceeds. In industries with rather transparent investment opportunities these arguments are not...

Persistent link: https://www.econbiz.de/10014503945