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Research Articles

Understanding the Discount: Evidence from European Property Shares

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Pages 241-251 | Published online: 18 Jun 2020

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Read on this site (5)

Alexander Schiller, René-Ojas Woltering, Christian Weis & Steffen Sebastian. (2022) What determines the mean reversion speed of NAV spreads?. Journal of Property Research 39:4, pages 293-320.
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Qiulin Ke. (2015) What affects the discount to net asset value in the UK-listed property companies?. Journal of Property Research 32:3, pages 240-257.
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Heidi Falkenbach, Jaakko Niskanen & Sami Kiehelä. (2013) Development and performance of the public real estate investment sector in Finland. International Journal of Strategic Property Management 17:3, pages 233-247.
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Michael Mueller & Andreas Pfnuer. (2013) A Review of the Noise Trader Model Concerning the NAV Spread in REIT Pricing: Evidence from the Pan EU REIT Market. Journal of Real Estate Portfolio Management 19:3, pages 189-205.
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Dirk RSM, Hans ‘t & Ville INREV. (2007) Transparency in the European Non-listed Real Estate Funds Market. Journal of Real Estate Portfolio Management 13:2, pages 107-117.
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Articles from other publishers (14)

Yener Coskun, Isil Erol & Giacomo Morri. (2020) Why do Turkish REITs trade at discount to net asset value?. Empirical Economics 60:5, pages 2227-2259.
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Sebastian Schnejdar, Michael Heinrich, René-Ojas Woltering & Steffen Sebastian. (2019) The Discount to NAV of Distressed Open-End Real Estate Funds. The Journal of Real Estate Finance and Economics 61:1, pages 80-114.
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Isil Erol & Tanja Tyvimaa. (2019) Explaining the premium to NAV in publicly traded Australian REITs, 2008–2018. Journal of Property Investment & Finance 38:1, pages 4-30.
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René-Ojas Woltering, Christian Weis, Felix Schindler & Steffen Sebastian. (2018) Capturing the value premium – global evidence from a fair value-based investment strategy. Journal of Banking & Finance 86, pages 53-69.
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Manfred KühnbergerManfred Kühnberger. 2017. Kapitalmarktorientierte Rechnungslegung. Kapitalmarktorientierte Rechnungslegung 249 365 .
Giacomo Morri & Alessandro Baccarin. (2016) European REITs NAV discount: do investors believe in property appraisal?. Journal of Property Investment & Finance 34:4, pages 347-374.
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Guido Abate. 2016. Asset Management and Institutional Investors. Asset Management and Institutional Investors 403 431 .
Jaume Roig Hernando & Juan Manuel Soriano Llobera. (2015) Liquidez y cotización respecto al valor neto de los activos de los REIT españoles (las SOCIMI). Revista Europea de Dirección y Economía de la Empresa 24:2, pages 92-107.
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Giacomo Morri & Paolo Benedetto. (2009) Leverage and NAV discount: evidence from Italian real estate investment funds. Journal of European Real Estate Research 2:1, pages 33-55.
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Piet M. A. Eichholtz & Nils Kok. (2007) How Does the Market for Corporate Control Function for Property Companies?. The Journal of Real Estate Finance and Economics 36:2, pages 141-163.
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Sally Monson, Helen X. Bao & Colin M. Lizieri. (2017) A Behavioral Interpretation of the NAV Discount Puzzle in Listed Real Estate Companies (Version Aug 2017). SSRN Electronic Journal.
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Luigi Mundula & Giuseppe Galloppo. (2011) Public Assets Sale Operations: An Italian Inefficiency History. SSRN Electronic Journal.
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Henning Zülch & Thomas Nellessen. (2010) The Reliability of Investment Property Fair Values Under IFRS. SSRN Electronic Journal.
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Piet M. A. Eichholtz & Nils Kok. (2007) The EU REIT and the Internal Market for Real Estate. SSRN Electronic Journal.
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