This paper examines the relationship between a (Real Estate Investment Trust's) REIT's stock returns and top management changes. The results indicate an inverse relationship between the probability of a management change and a REIT's recent stock price performance. This is consistent with...

In this study, we offer a refinement to a return attribution method proposed by the pioneers of return attribution analysis. Returns for the aggregate portfolio are decomposed into selection and allocation contributions as originally presented. We introduce the use of a neutral effect, which...

This study examines the portfolio implications of apartment investing. In particular, it concentrates on the sector's relative stability, liquidity and current market outlook. Support is found for many of the advantages attributed to apartments relative to other property types. The apartment...

We employ the term structure of gasoline and heating oil prices, proxied by convenience yields, to explain the variation in the spread between the prices of gasoline and crude oil and the prices of heating oil and crude oil. We demonstrate that the marginal convenience yields in the gasoline and...