This paper tests whether commercial real estate markets (both exchange‐traded and non‐exchange‐traded)
are integrated with stock markets using multifactor asset pricing models. …

A great deal of research has focused on the links between stock and bond market returns and
macroeconomic events such as fluctuations in interest rates, inflation rates, and industrial …

This is the first paper to examine how the COVID-19 shock transmitted from the asset markets
to capital markets. Using a novel measure of the exposure of commercial real estate (CRE) …

This book demonstrates how value is central to virtually all real estate decision-making.
Students using Ling and Archer should finish the course with a value-oriented framework and a …

Unlike operating company IPOs, Real Estate Investment Trust (REIT) IPOs in the 1970s and
1980s were initially overpriced and subsequently underperformed other REIT securities in …

This paper investigates the role of fundamentals and investor sentiment in commercial real
estate valuation. In real estate markets, heterogeneous properties trade in illiquid, highly …

The absolute location of each real estate parcel in an urban housing market has a unique
location‐value signature. Accessibility indices, distant gradients and locational dummies …

This paper investigates whether reliable house price indices can be constructed using a
limited set of descriptive variables on a large number of observations. Four primary index …

This paper examines the variation in the rates of price appreciation within an individual
metropolitan market. A methodology is developed to examine the locational variation in house …

The prepayment behavior of home mortgage borrowers has been widely observed to be
inconsistent with behavior implied by classical option theory. A substantial literature has …