Essays on Real Estate and International Asset Pricing PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Essays on Real Estate and International Asset Pricing PDF full book. Access full book title Essays on Real Estate and International Asset Pricing by Alberto Plazzi. Download full books in PDF and EPUB format.
Author: Alberto Plazzi
Publisher:
ISBN:
Category : Commercial real estate
Languages : en
Pages : 354
Get Book Here
Book Description
Author: Alberto Plazzi
Publisher:
ISBN:
Category : Commercial real estate
Languages : en
Pages : 354
Get Book Here
Book Description
Author: Yu Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages : 150
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 116
Get Book Here
Book Description
Author: Sundaram Janakiramanan
Publisher:
ISBN:
Category :
Languages : en
Pages : 356
Get Book Here
Book Description
Author: Tobias Dechant
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Yongqiang Chu
Publisher:
ISBN:
Category :
Languages : en
Pages : 176
Get Book Here
Book Description
Author: Jianping Mei
Publisher: World Scientific
ISBN: 9810245637
Category : Business & Economics
Languages : en
Pages : 265
Get Book Here
Book Description
Real estate finance is a fast-developing area where top quality research is in great demand. In the US, the real estate market is worth about US$4 trillion, and the REITs market about US$200 billion; tens of thousands of real estate professionals are working in this area. The market overseas could be considerably larger, especially in Asia. Given the rapidly growing real estate securities industry, this book fills an important gap in current real estate research and teaching. It is an ideal reference for investment professionals as well as senior MBA and PhD students.
Author: Latha Ramchand
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: James Anthony Bennett
Publisher:
ISBN:
Category : Capital assets pricing model
Languages : en
Pages : 284
Get Book Here
Book Description
Author: Ulrich Johannes Hammerich
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
This dissertation is not only a pioneer work in the new finance sphere cultural finance, but also a feat of fundamental research in international empirical asset pricing. I present significant evidence that the most basic stock characteristic, the nominal price, is consequential for stock returns (and associated with higher statistical moments) in a comprehensive cross-country dataset comprising 41 countries and a culture-dependent capital market anomaly (as it was already shown e.g. for the momentum effect). For the case of Germany, I additionally provide an in-depth analysis of the price effect (i.e. a high/low price of an asset goes hand in hand with high/low subsequent returns) as this country offers a unique possibility to investigate the evolution and trigger of this genuinely price-based capital market anomaly due to a rapid and dramatic countrywide dispersion of stock prices in the aftermath of law amendments. Furthermore, I find the explanatory power of risk factor mimicking hedge portfolios (especially RMRF, HML, and WML, i.e. the beta, value, and momentum factors), which are consistently implemented in empirical asset pricing models (like the FF 3-, 5-, and 6-factor models and the Carhart 4-factor model), as well as their effectiveness as investment styles to vary across cultures. That is, the spectrum of this dissertation strikes both implications of the weak EMH that time series data (like the price) should have no informational value for future returns and assumptions of theoretical asset pricing models that (only) systematic risk (CAPM), future investment opportunities (ICAPM) or consumption risk (CCAPM) drives asset returns (universally). Finally, yet importantly, I find evidence that even cultural characteristics in itself (measured via the cultural dimensions of Hofstede and others) have explanatory and predictive power for global, cross-sectional stock returns as well as characteristics-based (hedge) portfolio returns. By virtue of these contributions to pertinent financial research, this dissertation is an empirical primer for possible future fields of research culture-based/culture-neutral asset pricing, asset management, and asset allocation.
