Whether geographic diversification within property portfolios is ideal remains an open
question, with most studies finding either a diversification discount or no evidence of …

This article examines the relation between investor sentiment and returns in private markets.
Relative to more liquid public markets, private investment markets exhibit significant limits to …

The dynamic role of the Japanese property sector REITs in mixed-assets portfolio | Emerald
Insight Books and journals Case studies Expert Briefings Open Access Publish with us …

The real estate investment trusts (REITs) industry has been omitted from industry
concentration studies because REITs are unique, regulated companies. We fill this research …

This paper examines the degree to which the market prices of publicly traded firms reflect
and respond to new information regarding the economic viability and vitality of organizations …

We examine property sell-offs by real estate investment trusts (REITs) and find that investors
respond favorably to sales of properties located close to a sell-off firm's headquarters. The …

This study addresses how and why the stock return volatility of REITs changes over time and
identifies which mechanisms influence it at a firm level. Using US equity REIT data from …

Overconfidence is one of the most robust behavioral anomalies in financial markets. By
attributing investment gains to their ability, investors become overconfident and trade …

This study examines the liquidity risk of real estate investment trusts (REITs) as measured by
their return sensitivity to marketwide liquidity shocks. Due to their unique dividend payout …

This study explores the role of short sale constraints in explaining the variation in premiums
to Net Asset Value (NAV) in REIT pricing. We use proprietary information on short sales …