For want of appropriate and effectual methodological approaches or analytical instruments,
analysis of socio-economic phenomena can sometimes be problematic. As Frances et al …

If investors value securities according to their returns net of trading costs, then they should
require a higher expected return, the higher a stock's bid-ask spread, in order to compensate …

Real estate returns, measured unleveraged, have been between those of stocks and bonds
over 1960–1982. Due to appraisal smoothing and imperfect marketability, one must be …

Returns on real estate investments have been examined from many historical perspectives.
This study provides a comprehensive review of the real estate investment literature …

Traditional real estate valuation models stabilize cash flow variables in a single-or multi-year
pro forma, assume efficient markets, and impute property return/risk expectations into a …

Real estate investment trusts (REITs) offer investors the ability to more easily include real
estate-related assets in their investment portfolios. Certain REIT characteristics may allow …

In this article, we examine whether the performance of real estate investment trusts (REITs)
is correlated with advisor type. Seven categories of advisors are used in the analysis. All …

This paper explores the relationship between distress risk and stock return on equity REITs
from 1982 to 2017. The distress risk measures such as expected default frequency and …

Diversification gains in mean‐variance efficiency derived from including real estate in
financial asset portfolios are examined. Optimal financial and mixed‐asset portfolios were …

This study reports on the ex-post performance of survivor REITs and RECs over a 14.5-year
period covering several business cycles. The results show that the systematic risk and risk …