This paper investigates the major determinants of fund performance and outperformance for the non-listed fund sector. More specifically, it seeks to understand whether fund performance reflects management and stock-selection skills or whether performance is mainly in line with average returns in...

This paper presents the results of two variations of an econometric forecasting model for both German and US office rental markets. The main objective of this approach is to elucidate the capability of time-series regression models of basic market indicators to capture and forecast movements in...

Following the EU Energy Performance of Buildings Directive requiring all buildings at construction, sale or rent (or every ten years) to have certificates providing information about their energy performance through a rating of CO2 emissions, Energy Performance Certificates (EPCs) and the...

The quality of a building's architectural design can be transmitted to its price through a number of channels. There are complex interactions between the different dimensions of brand (of the architect and the building), design (aesthetic and functional) and value (exchange/owner, user/operator...

The aim of this research is to investigate whether intrinsically energy efficient offices in the United Kingdom command a price premium when compared to intrinsically energy inefficient offices that possess otherwise similar characteristics.Since October 2008 the energy efficiency of commercial...

This study uses a unique dataset of the Finnish housing market to investigate the hypothesised link between energy efficiency and house prices. It explores the following research questions: 1) Does the energy efficiency rating of a dwelling have an independent impact on its price and if so, how...

If in equity markets style analysis has been studied extensively, in real estate ones it is only now emerging as a valuable tool for measuring and benchmarking performance and risk. So far studies in the property market have identified three investment categories (rather than styles): sectors...

The focus of this study is on the effect of EPC rating on the capital values, rental values and equivalent yields of a sample of UK commercial property assets. As part of a wider objective to reduce greenhouse gas emissions, one of the policy aims of energy labelling of buildings is to provide...

Purpose – The purpose of this paper is to investigate the relationships between supply and demand in 19 European office markets in the period 1991‐2006. It estimates the variations in the price elasticity of supply across the different markets. The paper tests whether developers display...

Purpose – This paper aims to investigate the effect of corporate social responsibility (CSR) ratings on the ex ante cost of capital of more than 2,300 listed US companies in a panel from 2003 to 2010. It examines whether financial markets value continuous investment in CSR activities through...