This study is among the first to uncover specific concepts and skills critical to the general corporate real estate executive. The research targeted a broad range of U.S. and international corporate real estate executives in positions to know the requirements for their assignment. The results...

Developing a good prepayment model is a central task in the valuation of mortgages and mortgage-backed securities but conventional parametric models often have bad out-of-sample predictive ability. A likely explanation is the highly non-linear nature of the prepayment function. Non-parametric...

Tax legislation included in the Revenue Reconciliation Act of 1993 made large-scale investments in equity real estate investment trusts (REITs) more desirable to institutional investors. Other studies have observed an increased level of institutional ownership in REITs during the timeframe...

This research investigates relationships between a corporation's rationale for forming a Corporate Real Estate Unit (CREU), its industry, and the type of CREU formed. Four conclusions are offered. First, there is no significant relationship between industry and the type of CREU formed. Second,...

This study uses data on 487 nursing homes in Florida for 1996 to examine several issues about the efficiency of nursing homes. Chain affiliation (national, regional or independent) is examined, as is profit status (for-profit or non-profit). For the first time quality of care is also included,...

A significant literature exists that documents reductions in property value around toxic, chemical and in some cases solid waste landfills. There is also an emerging literature on stigma-related damage, which can be defined as a loss in value due to the increased risk associated with a...

Using Wyoming ranch sales from 1979-1983 and 1989-1993, this study investigates how ranch value determining attributes may have changed over this period. The 1979-1983 period is one of political stability and rising prices. In constrast, the 1989-1993 period is one of political uncertainty but...

In this note, the choice of mortgage instrument in an inflationary environment was analyzed. Using Federal Home Loan Bank data on the proportion of loans closed as variable-rate mortgages for the period 1981 to 1987, it was found that higher anticipated inflation held with certainty increased...

After allowing applicants to "lock" the interest rate, mortgage originators are concerned with protecting themselves from adverse outcomes due to interest-rate changes. One may expect applicants would strive to close applications when rates rose, while letting themselves fall out when rates...

This note presents a model of commercial construction activity that incorporates the availability of mortgage funds as well as the mortgage rate. Empirical tests show that mortgage availability is an important determinant of construction. The model is used to indicate that the flood of mortgage...