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Author: Casey Turezyn
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Sustainability, and its relationship to the corporate business model, has become a major topic of discussion in recent years. Many companies have dedicated time and effort to increasing their participation in positive "green" efforts, while simultaneously decreasing their environmental footprint. The real estate and development industry offers a unique business model, and one that is inherently tied to environmental footprints through energy consumption, land development, and construction. Previous studies have shown that real estate companies that participate in "green" efforts show increased returns, and lower costs at the property level. I have designed an event study to quantify the market's reaction to Real Estate Investment Trusts announcing increased sustainability awareness, specifically joining the U.S. Green Building Council coalition. A positive market reaction would indicate that investors do in fact value "green" business models. This paper will discuss the current sustainability landscape as it relates to REITs, the current research regarding the topic, and the results of my event study.
Author: Casey Turezyn
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Sustainability, and its relationship to the corporate business model, has become a major topic of discussion in recent years. Many companies have dedicated time and effort to increasing their participation in positive "green" efforts, while simultaneously decreasing their environmental footprint. The real estate and development industry offers a unique business model, and one that is inherently tied to environmental footprints through energy consumption, land development, and construction. Previous studies have shown that real estate companies that participate in "green" efforts show increased returns, and lower costs at the property level. I have designed an event study to quantify the market's reaction to Real Estate Investment Trusts announcing increased sustainability awareness, specifically joining the U.S. Green Building Council coalition. A positive market reaction would indicate that investors do in fact value "green" business models. This paper will discuss the current sustainability landscape as it relates to REITs, the current research regarding the topic, and the results of my event study.
Author: Henry Schäfer
Publisher:
ISBN:
Category :
Languages : en
Pages : 26
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Book Description
Author: Sara Wilkinson
Publisher: Routledge
ISBN: 1317223969
Category : Business & Economics
Languages : en
Pages : 424
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Book Description
With the built environment contributing almost half of global greenhouse emissions, there is a pressing need for the property and real estate discipline to thoroughly investigate sustainability concerns. The Routledge Handbook of Sustainable Real Estate brings together the latest research of leading academics globally, demonstrating the nature and extent of the impact as well as suggesting means of mitigating humankind's impact and building resilience. Four sections examine the different aspects of sustainable real estate: governance and policy valuation, investment and finance management redevelopment and adaptation. Covering all land uses from residential to commercial, retail and industrial, the Routledge Handbook of Sustainable Real Estate is an exciting mixture of received wisdom and emerging ideas and approaches from both the developed and developing world. Academics, upper-level students and researchers will find this book an essential guide to the very best of sustainable real estate research.
Author: Pedro Matos
Publisher: CFA Institute Research Foundation
ISBN: 1944960988
Category : Business & Economics
Languages : en
Pages : 80
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Book Description
This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.
Author: David Parker
Publisher: Routledge
ISBN: 1351664824
Category : Technology & Engineering
Languages : en
Pages : 352
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Book Description
The Routledge REITs Research Handbook presents a cutting-edge examination of the research into this key global investment vehicle. Edited by internationally respected academic and REIT expert Professor David Parker, the book will set the research agenda for years to come. The handbook is divided into two parts, the first of which provides the global context and a thematic review covering: asset allocation, performance, trading, sustainability, Islamic REITs, emerging sectors and behavioural finance. Part II presents a regional review of the issues with high level case studies from a diverse range of countries including the US, UK, Brazil, India, Australia, China, Singapore, Israel and Russia, to name just a few. This handbook redefines existing areas within the context of international REITs research, highlights emerging areas and future trends and provides postgraduates, professionals and researchers with ideas and encouragement for future research. It is essential reading for all those interested in real estate, international investment, global finance and asset management.
Author: Larry E. Swedroe
Publisher: Harriman House Limited
ISBN: 0857199056
Category : Business & Economics
Languages : en
Pages : 175
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Book Description
Sustainable investing is booming. The investment industry is fast approaching a point where one-third of global assets under management are invested with a sustainable objective. But do sustainable investment products do what investors expect them to do? How can an investor tell if their investments are having the social impact they want? Does that impact come at a financial cost? And how can investors weave their way through the web of confusing acronyms, conflicting agency ratings, and the mass of fund offerings, confident that they can recognize and avoid corporate greenwashing? Larry Swedroe and Sam Adams cut through the fog and bring clarity on all of this and more—providing investors with a firm plan for truly sustainable investing. The authors first define sustainable investing, illuminating the differences between ESG, SRI and impact investing, and reveal who is currently investing sustainably and why. They then move on to a comprehensive review of the academic research. What does the data really say about risk and return in sustainable investing? What performance can you genuinely expect from sustainable investments? And how are today’s sustainable investors using their influence to drive positive changes for society and the environment? Finally, this book arms you with a practical guide to investing sustainably, including how to effectively choose your asset allocation strategy, and select the managers and funds through which your money can create the change you want to see in the world. Your Essential Guide to Sustainable Investing is the definitive go-to resource that investors have been waiting for.
Author: Franz Fuerst
Publisher:
ISBN:
Category :
Languages : en
Pages : 22
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Book Description
This study shows for the first time, that investing comprehensively in sustainability as measured by the GRESB rating) pays off for REITs by enhancing operational performance and lowering risk exposure and volatility. Analyzing a sample of REITs from North America, Asia and Europe for the 2011-14 time period, it also appears that there is a great deal of untapped potential, particularly in the REIT community, to improve the sustainability performance of corporate real-estate portfolios. For real estate assets to maintain their competitive positioning, it is critical that their owners invest in measures that improve their sustainability.
Author: Ralph L. Block
Publisher: John Wiley & Sons
ISBN: 1118112601
Category : Business & Economics
Languages : en
Pages : 455
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Book Description
The new Fourth Edition of the definitive handbook on investing in Real Estate Investment Trusts (REITs) Real Estate Investment Trusts (REITs), which provide some of the best total returns in the investment world, along with above-average dividend yields and stable earnings, have become increasingly popular with both individual and institutional investors. Investing in REITs, Fourth Edition has established itself as the definitive guide to understanding this attractive asset class. The book is invaluable for investors, financial planners, and investment advisers interested in understanding REITs and REIT investment opportunities. As their earnings and dividends are beginning to grow again after the Great Recession—and as they are in a unique position to take advantage of distressed sale opportunities—now is an excellent time for investors to consider REITs for both diversification and strong total returns. The new edition covers: A comprehensive history of the REIT industry How REITs compare with other competitive investments How to spot blue-chip REITs and control investment risk How to value individual REIT stocks, and REIT shares generally How to build a diversified REIT portfolio, directly or with REIT mutual funds Understanding the risk-and-reward dynamics of commercial real estate Assessing non-US REITs and how to invest in them Important new developments and strategies in the REIT industry Author Ralph L. Block, who has been investing in REIT stocks for 40 years and is widely considered a leading authority on REITs, brings the historical success of Investing in REITs right up to date. This book is an essential read for both individuals and institutions who desire to invest in commercial real estate through REIT stocks.
Author: Nick Martin Trefz
Publisher: Springer Nature
ISBN: 3658400498
Category : Business & Economics
Languages : en
Pages : 191
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Book Description
By adopting the ‘REIT laboratory’ and incorporating REIT-specific Fama-French factors, Nick Martin Trefz builds the foundation to appropriately isolate the parameters of interest and to transparently investigate the areas of interest (Short Selling, Covid-19, and ESG) throughout the chapters in this book. He finds that short selling activity measured by short interest correlates with positive excess returns, and that low short interest portfolios have positive and statistically significant alphas. He further identifies that during the Covid-19 pandemic the sources of spillovers among US real estate sectors remain constant compared to before Covid-19. Lodging can be identified as a source of total return as well as tail risk, and Office can be considered a source of volatility. Lastly, he shows that ESG ratings do not affect returns during Covid-19. However, higher ESG ranked REITs show significantly lower volatility during Covid-19.
Author: Stephanie Krewson-Kelly
Publisher: John Wiley & Sons
ISBN: 1119708699
Category : Business & Economics
Languages : en
Pages : 310
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Book Description
Learn to invest in REITs with confidence and skill with this powerful resource Educated REIT Investing is the ultimate resource for investors, financial advisors, and students interested in learning how to invest in real estate investment trusts (REITs)—one of the only asset classes to significantly outperform the S&P 500 Index over the last 25 years. Written by Stephanie Krewson-Kelly and Glenn R. Mueller, PhD., both accomplished REIT authors and investors with six decades of accumulated industry experience between them, Educated REIT Investing provides all the basics and history, then blends pragmatic strategies and advice with a thorough exploration of the fundamentals and nuances of the REIT industry. Topics include: Basic information about REITs and the REITs industry Terminology specific to the REIT industry, explained in plain-English Historical REIT industry performance tables and trading perspectives Analysis and equations needed to calculate key metrics used to identify the suitability of companies for investment purposes, illustrated with simple examples This book is perfect for anyone looking for a straightforward, easy-to-understand resource to establish or improve their understanding and analysis of real-estate investment trusts.
