Dimovski, William; Brooks, Robert - In: The Journal of Real Estate Finance and Economics 32 (2006) 2, pp. 185-199
Following Brounen and Eichholtz (2002) this paper adds to the international literature investigating the underpricing of REIT initial public offerings (IPOs), with a study into Australian property trusts. This study finds that initial day returns can in part be explained by forecast profit...