Italian Real Estate Investment Trusts (REITs) are closed-end legal entities structured in the form of investment funds with finite life, externally managed by a management company. Retail REITs are subject to prudential and tax regulation aimed, respectively, to protect and favour retail...

This paper deals with a portfolio selection model in which the methodologies of robust optimization are used for the minimization of the conditional value at risk of a portfolio of shares. Conditional value at risk, being in essence the mean shortfall at a specified confidence level, is a...

In this paper we define and compare versions of the robust and non robust portfolio selection models based on the use, as a measure of risk, of volatility, Value at Risk and Conditional Value at Risk. This with the aim to take account of asymmetries in distribution of yields, and in profits and...

This paper investigates the effects of the Italian real estate funds governance and intermediation structure on market prices discount over Nav figures.The hypothesis is that the mandatory provision of a shareholders’ meeting of newly established Reits offers potential protection to investors...

In contrast to the US experience, most international (European) real estate investments trusts (REITs) are subject to prudential regulation. This paper investigates the effects of prudential regulation on capital structures and consequently, the REIT share values of major legal and market...

This paper analyses the X-efficiency level of Italian Asset Management Companies (Amc).This topic seems really important since there is a huge amount of literature that deals with X-efficiency with regard to the banking system; the aim of these works is to discover which factors can improve the...