This paper investigates the operation of outsourced property management delivery. Drawing upon semi-structured interviews with senior professionals responsible for property management outsourcing in Finland, Netherlands and the UK, it is found that the perceived advantages and disadvantages of...

Due to a timing mismatch between fee receipts and commission payments, there is a newand growing market for securities backed by fees from back-end load and level load mutualfunds. This paper develops a contingent claims methodology for the valuation of thesesecurities. The resulting security...

Most previous empirical research on scale efficiency in banking has found increasing returns to scale only among relatively small banks, and decreasing returns to scale among larger banks. The present study shows that these results were biased by problems in the statistical techniques used and...

For the period 2007-12, this paper investigates the scale and determinants of cross-border investment flows between national real estate markets. The literature on the application of gravity models to international investment and previous research on cross-border real estate investment is...

This study investigates the effects of European monetary integration on the behavior of stock returns in European real estate companies from the perspective of a dollar-denominated investor. A range of statistical tests is applied to assess changes in segmentation, co-movement and causality. The...

This paper draws on empirical material gathered in the Eastern Cape Province, South Africa, an area that includes what used to be known as the Transkei, to consider the nature and usefulness of the concept 'marginalisation'. It shows that structural factors alone cannot account for the...

ERES:conference

Forecasts play an important role in real estate investment decisions supporting broad asset allocation and real estate fund strategy, including sector and geographic allocation. It is believed that through modelling and forecasting real estate markets improved real estate investment decisions...

In the UK, the movement of the ownership of investment property away from small scale local entrepreneurs to larger companies and institutions from the 1960s onwards, attracted the interest of professional advisors well versed in finance theory and practice. Investment property valuation models...

Through economic booms and slumps, the supply of housing has failed to keep pace with demand. The political solution to this problem has consistently focused on the supply side of the equation. The speed of the economic downturn in 2007/8 left many developers with extant planning permissions for...