Bhasin, Vijay; Cole, Rebel A.; Kiely, Joseph K. - In: Real Estate Economics 25 (1997) 4, pp. 615-630
This study uses data on intra-day transactions to analyze whether real estate investment (REIT) liquidity as measured by the bid-ask spread changed from 1990 to 1994, a period during which the industry's market capitalization increased from $8.7 billion to $45 billion. REIT percentage spreads...