메뉴 건너뛰기




Volumn 33, Issue SPEC. ISS., 2007, Pages 134-144

Stocks are from mars, real estate is from venus: The cross-section of long-run investment performance

Author keywords

[No Author keywords available]

Indexed keywords


EID: 35548976607     PISSN: 00954918     EISSN: None     Source Type: Journal    
DOI: 10.3905/jpm.2007.698912     Document Type: Article
Times cited : (31)

References (27)
  • 1
    • 84983931920 scopus 로고
    • Risk and Return on Real Estate: Evidence from Equity REITs
    • Spring
    • Chan, K., P. Hendershott, and A. Sanders. "Risk and Return on Real Estate: Evidence from Equity REITs." AREUEA Journal, Vol. 18, No. 1 (Spring 1990), pp. 431-452.
    • (1990) AREUEA Journal , vol.18 , Issue.1 , pp. 431-452
    • Chan, K.1    Hendershott, P.2    Sanders, A.3
  • 4
    • 84977737676 scopus 로고
    • The Cross-Section of Expected Stock Returns
    • June
    • Fama, E., and K. French. "The Cross-Section of Expected Stock Returns." Journal of Finance, Vol. 47, No. 2 (June 1992), pp. 427-465.
    • (1992) Journal of Finance , vol.47 , Issue.2 , pp. 427-465
    • Fama, E.1    French, K.2
  • 5
    • 8744269283 scopus 로고    scopus 로고
    • The Capital Asset Pricing Model: Theory and Evidence
    • Summer
    • _. "The Capital Asset Pricing Model: Theory and Evidence." Journal of Economic Perspectives, Vol. 18, No. 3 (Summer 2004), pp. 25-46.
    • (2004) Journal of Economic Perspectives , vol.18 , Issue.3 , pp. 25-46
    • Fama, E.1    French, K.2
  • 6
    • 0000928969 scopus 로고
    • Risk, Return, and Equilibrium: Empirical Tests
    • May
    • Fama, E., and J. MacBeth. "Risk, Return, and Equilibrium: Empirical Tests." Journal of Political Economy, Vol. 81 (May 1973), pp. 607-636.
    • (1973) Journal of Political Economy , vol.81 , pp. 607-636
    • Fama, E.1    MacBeth, J.2
  • 7
    • 84984016484 scopus 로고
    • Estimating Real Estates Systematic Risk from Aggregate Level Appraisal-Based Returns
    • Winter
    • Geltner, D. "Estimating Real Estates Systematic Risk from Aggregate Level Appraisal-Based Returns." AREUEA Journal, Vol. 17, No. 4 (Winter 1989), pp. 463-481.
    • (1989) AREUEA Journal , vol.17 , Issue.4 , pp. 463-481
    • Geltner, D.1
  • 9
    • 35548943291 scopus 로고    scopus 로고
    • Why Can't a Practitioner Be More Like an Academic?... (An Academic's Perspective on Real Estate Investment Risk)
    • Fall
    • Geltner, D. "Why Can't a Practitioner Be More Like an Academic?... (An Academic's Perspective on Real Estate Investment Risk)." PREA Quarterly, Fall 2005.
    • (2005) PREA Quarterly
    • Geltner, D.1
  • 11
    • 3042536760 scopus 로고    scopus 로고
    • Determinants of Cross-Sectional Variation in Discount Rates, Growth Rates and Exit Cap Rates
    • Gunnelin, Ake, Patric H. Hendershott, Martin Hoesli, and Bo Soderberg. "Determinants of Cross-Sectional Variation in Discount Rates, Growth Rates and Exit Cap Rates." Real Estate Economics, Vol. 32 (2004), pp. 217-237.
    • (2004) Real Estate Economics , vol.32 , pp. 217-237
    • Gunnelin, A.1    Hendershott, P.H.2    Hoesli, M.3    Bo, S.4
  • 12
    • 30744478983 scopus 로고    scopus 로고
    • Investor Rationality: An Analysis of NCRTIF Commercial Property Data
    • Hendershott, Patric H., and Bryan D. MacGregor. "Investor Rationality: An Analysis of NCRTIF Commercial Property Data." Journal of Real Estate Research, Vol. 27, No. 4 (2005a), pp. 445-475.
    • (2005) Journal of Real Estate Research , vol.27 , Issue.4 , pp. 445-475
    • Hendershott, P.H.1    MacGregor, B.D.2
  • 13
    • 20744441522 scopus 로고    scopus 로고
    • Investor Rationality: Evidence from UK Property Capitalization Rates
    • Hendershott, Patric H., and Bryan D. MacGregor. "Investor Rationality: Evidence from UK Property Capitalization Rates." Real Estate Economics, Vol. 33 (2005b), pp. 299-322.
    • (2005) Real Estate Economics , vol.33 , pp. 299-322
    • Hendershott, P.H.1    MacGregor, B.D.2
  • 14
    • 35549008213 scopus 로고    scopus 로고
    • Size-Tiered Economic Geography: An Update
    • December
    • Hess, R., and Y. Liang. "Size-Tiered Economic Geography: An Update." Pramerica Real Estate Investors, December 2005, www.pramericarei.com.
    • (2005) Pramerica Real Estate Investors
    • Hess, R.1    Liang, Y.2
  • 15
    • 3543005697 scopus 로고    scopus 로고
    • The Long Cycle of Real Estate
    • Kaiser, R. W. "The Long Cycle of Real Estate." Journal of Real Estate Research, Vol. 14, No. 3 (1997), pp. 233-258.
    • (1997) Journal of Real Estate Research , vol.14 , Issue.3 , pp. 233-258
    • Kaiser, R.W.1
  • 16
    • 35548929126 scopus 로고    scopus 로고
    • Multiple Asset Class Investing: Equilibrium Asset Pricing Evaluations of Real Estate Risk and Return across Four Quadrants
    • Thesis, Massachusetts Institute of Technology
    • Li, N., and S.M. Price. "Multiple Asset Class Investing: Equilibrium Asset Pricing Evaluations of Real Estate Risk and Return across Four Quadrants." MSRED Thesis, Massachusetts Institute of Technology, 2005.
    • (2005) MSRED
    • Li, N.1    Price, S.M.2
  • 17
    • 0031501561 scopus 로고    scopus 로고
    • Economic Risk Factors and Commercial Real Estate Returns
    • May
    • Ling, D., and A. Naranjo. "Economic Risk Factors and Commercial Real Estate Returns." Journal of Real Estate Finance & Economics, Vol. 14, No. 3 (May 2007), pp. 283-307.
    • (2007) Journal of Real Estate Finance & Economics , vol.14 , Issue.3 , pp. 283-307
    • Ling, D.1    Naranjo, A.2
  • 18
    • 0003114587 scopus 로고
    • The Valuation of Risky Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets
    • February
    • Lintner, J. "The Valuation of Risky Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets." Review of Economics and Statistics, Vol. 47, No. 13 (February 1965), pp. 13-37.
    • (1965) Review of Economics and Statistics , vol.47 , Issue.13 , pp. 13-37
    • Lintner, J.1
  • 19
    • 84984080934 scopus 로고
    • The Composition of the Market Portfolio and Real Estate Investment Performance
    • Spring
    • Liu, C., D. Hartzell, T. Grissom, and W. Grieg. "The Composition of the Market Portfolio and Real Estate Investment Performance." AREUEA Journal, Vol. 18, No. 1 (Spring 1990), pp. 49-75.
    • (1990) AREUEA Journal , vol.18 , Issue.1 , pp. 49-75
    • Liu, C.1    Hartzell, D.2    Grissom, T.3    Grieg, W.4
  • 20
    • 84995186518 scopus 로고
    • Portfolio Selection
    • March
    • Markowitz, H. "Portfolio Selection." Journal of Finance, Vol. 7 (March 1952), pp. 77-91.
    • (1952) Journal of Finance , vol.7 , pp. 77-91
    • Markowitz, H.1
  • 21
    • 0000001497 scopus 로고
    • Is There a Real Estate Factor Premium?
    • September
    • Mei, J., and A. Lee. "Is There a Real Estate Factor Premium?" Journal of Real Estate Finance & Economics, Vol. 9, No. 2 (September 1994), pp. 113-126.
    • (1994) Journal of Real Estate Finance & Economics , vol.9 , Issue.2 , pp. 113-126
    • Mei, J.1    Lee, A.2
  • 22
    • 84858369200 scopus 로고    scopus 로고
    • National Council of Real Estate Investment Fiduciaries website, accessed June 2006
    • National Council of Real Estate Investment Fiduciaries website, 〈https://www.ncreif.org/inices/npi.phtml?type=national〉, accessed June 2006.
  • 23
    • 84980092818 scopus 로고
    • Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk
    • September
    • Sharpe, W. "Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk." Journal of Finance, Vol. 19 (September 1964), pp. 425-442.
    • (1964) Journal of Finance , vol.19 , pp. 425-442
    • Sharpe, W.1
  • 25
    • 0042066565 scopus 로고    scopus 로고
    • Office Capitalization Rates: Why Do They Vary Across Metropolitan Markets?
    • Sivitanidou, Rena C., and Petros S. Sivitanides. "Office Capitalization Rates: Why Do They Vary Across Metropolitan Markets?" Real Estate Issues, Vol. 21 (1996), pp. 34-39.
    • (1996) Real Estate Issues , vol.21 , pp. 34-39
    • Sivitanidou, R.C.1    Sivitanides, P.S.2
  • 27
    • 0141871407 scopus 로고    scopus 로고
    • Property Size and Risk: Why Bigger Is Not Always Better
    • Ziering, B., and W. McIntosh. "Property Size and Risk: Why Bigger Is Not Always Better." Journal of Real Estate Portfolio Management, Vol. 5, No. 2 (1999), pp. 105-112.
    • (1999) Journal of Real Estate Portfolio Management , vol.5 , Issue.2 , pp. 105-112
    • Ziering, B.1    McIntosh, W.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.