60
Views
9
CrossRef citations to date
0
Altmetric
Research Articles

Agency Costs and Inefficiency in Commercial Real Estate

&
Pages 19-36 | Published online: 18 Jun 2020

  • Abraham, A. and D.L. Ikenberry, The Individual Investor and the Weekend Effect, Journal of Financial and Quantitative Analysis, 1994, 29, 263-77. The Individual Investor and the Weekend Effect Journal of Financial and Quantitative Analysis 29 263 77
  • Advisory Council on Employee Welfare and Pension Benefit Plans, Report of the Work Group on Real Estate Investments, Washington, D.C.: United States Department of Labor, November 8, 1995. Report of the Work Group on Real Estate Investments
  • Bachelier, L., Théorie de la Spéculation, Paris: Gauthier-Villars, 1900. Théorie de la Spéculation
  • Banz, R.W., The Relationship Between Return and Market Value of Common Stocks, Journal of Financial Economics, 1981, 9, 3-18. The Relationship Between Return and Market Value of Common Stocks Journal of Financial Economics 9 3 18
  • Fama, E.F., Efficient Capital Markets: II, Journal of Finance, 1991, 46, 1575-1617. Efficient Capital Markets: II Journal of Finance 46 1575 1617
  • Fama, E.F., Efficient Capital Markets: A Review of Theory and Empirical Work, Journal of Finance, 1970, 25, 383-417. Efficient Capital Markets: A Review of Theory and Empirical Work Journal of Finance 25 383 417
  • Gatzlaff, D.H. and D. Tirtiroglu, Real Estate Market Efficency: Issues and Evidence, Journal of Real Estate Literature, 1995, 3, 157-89. Real Estate Market Efficency: Issues and Evidence Journal of Real Estate Literature 3 157 89
  • Geltner, D.M., Smoothing in Appraisal-Based Returns, Journal of Real Estate Finance and Economics, 1991, 4, 327-45. Smoothing in Appraisal-Based Returns Journal of Real Estate Finance and Economics 4 327 45
  • Geltner, R.A. Graff and M.S. Young, Random Disaggregate Appraisal Error in Commercial Property: Evidence from the Russell-NCREIF Database, Journal of Real Estate Research, 1994, 9:4, 403-19. Random Disaggregate Appraisal Error in Commercial Property: Evidence from the Russell-NCREIF Database Journal of Real Estate Research 9 403 19
  • Giaccotto, C. and J. Clapp, Appraisal-Based Real Estate Returns Under Alternative Market Regimes, Journal of the American Real Estate and Urban Economics Association, 1992, 20:1, 1-24. Appraisal-Based Real Estate Returns Under Alternative Market Regimes Journal of the American Real Estate and Urban Economics Association 20 1 24
  • Graff, R.A., Perspectives on Debt-and-Equity Decomposition for Investors and Issuers of Real Estate Securities, Journal of Real Estate Research, 1992, 7:4, 449-67. Perspectives on Debt-and-Equity Decomposition for Investors and Issuers of Real Estate Securities Journal of Real Estate Research 7 449 67
  • Graff, R.A., and D.M. Cashdan, Jr., Some New Ideas in Real Estate Finance, Journal of Applied Corporate Finance, 1990, 3:1, 77-89. Some New Ideas in Real Estate Finance Journal of Applied Corporate Finance 3 77 89
  • Graff, R.A. and M.S. Young, Real Estate Return Correlations: Real-World Limitations on Relationships Inferred from NCREIF Data, Journal of Real Estate Finance and Economics, 1996, 13, 121-42. Real Estate Return Correlations: Real-World Limitations on Relationships Inferred from NCREIF Data Journal of Real Estate Finance and Economics 13 121 42
  • Grossman, S.J. and J.E. Stiglitz, Information and Competitive Price Systems, American Economic Review, 1976, 66, 246-53. Information and Competitive Price Systems American Economic Review 66 246 53
  • Jaffe, J. and R. Westerfield, The Week-End Effect in Common Stock Returns: The International Evidence, Journal of Finance, 1985, 50, 433-54. The Week-End Effect in Common Stock Returns: The International Evidence Journal of Finance 50 433 54
  • Keim, D.B., Size-Related Anomalies and Stock Return Seasonality: Further Empirical Evidence, Journal of Financial Economics, 1983, 12, 13-32. Size-Related Anomalies and Stock Return Seasonality: Further Empirical Evidence Journal of Financial Economics 12 13 32
  • Lai, T.-Y. and K. Wang, Appraisal Smoothing: The Other Side of the Story, 1997, in review. Appraisal Smoothing: The Other Side of the Story
  • Mandelbrot, B., Forecasts of Future Prices, Unbiased Markets, and ‘Martingale’ Models, Journal of Business, 1966, 39, 242-55. Forecasts of Future Prices, Unbiased Markets, and ‘Martingale’ Models Journal of Business 39 242 55
  • Myer, F.C.N. and J.R. Webb, Statistical Properties of Returns: Financial Assets versus Commercial Real Estate, Journal of Real Estate Finance and Economics, 1994, 8, 267-82. Statistical Properties of Returns: Financial Assets versus Commercial Real Estate Journal of Real Estate Finance and Economics 8 267 82
  • Quan, D.C. and J.M. Quigley, Price Formation and the Appraisal Function in Real Estate Markets, Journal of Real Estate Finance and Economics, 1991, 4, 127-46. Price Formation and the Appraisal Function in Real Estate Markets Journal of Real Estate Finance and Economics 4 127 46
  • Roberts, H.V, Statistical versus Clinical Prediction of the Stock Market, unpublished paper presented at the Seminar on the Analysis of Security Prices, Universiy of Chicago, 1967.
  • Samuelson, P.A., Proof that Properly Anticipated Prices Fluctuate Randomly, Industrial Management Review, 1965, 6, 41-49. Proof that Properly Anticipated Prices Fluctuate Randomly Industrial Management Review 6 41 49
  • Sirmans, C.F., Data Sources for Real Estate Market Analysis, Glastonbury, Conn.: Pension Real Estate Association, 1994. Data Sources for Real Estate Market Analysis
  • Young, M.S. and R.A. Graff, Systematic Behavior in Real Estate Risk: Performance Persistence in NCREIF Returns, Journal of Real Estate Research, 1996, 12:3, 369-81. Systematic Behavior in Real Estate Risk: Performance Persistence in NCREIF Returns Journal of Real Estate Research 12 369 81
  • Young, M.S. and R.A. Graff, Real Estate is Not Normal: A Fresh Look at Real Estate Return Distributions, Journal of Real Estate Finance and Economics, 1995, 10, 225-59. Real Estate is Not Normal: A Fresh Look at Real Estate Return Distributions Journal of Real Estate Finance and Economics 10 225 59
  • Young, M.S. and D.W. Grieg, Leases as a Key to Performance and Value: Understanding What You Have Versus What You Hope For, in The Handbook of Real Estate Portfolio Management, 241-70, Chicago: Irwin, 1995. Leases as a Key to Performance and Value: Understanding What You Have Versus What You Hope For, in The Handbook of Real Estate Portfolio Management
  • Young, M.S. and D.W. Grieg, Drums Along the Efficient Frontier, Real Estate Review, 1993, 22, 18-29. Drums Along the Efficient Frontier Real Estate Review 22 18 29

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.