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Financial Analysts Journal Volume 53, 1997 - Issue 3
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FEATURE ARTICLES

Commercial Real Estate Prices and Stock Market Returns: An International Analysis

Daniel C. Quan Daniel C. Quan is an assistant professor of real estate and finance in the Department of Finance at the University of Texas at Austin.
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Sheridan Titman Sheridan Titman is a professor of finance in the Department of Finance at the University of Texas at Austin.
Pages 21-34 | Published online: 02 Jan 2019

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  • Quan, D., and J. Quigley. 1991. “Price Formation and the Appraisal Function in Real Estate Markets.” Journal of Real Estate Finance and Economics, vol. 4, no. 2 (June): 127–46.
  • Shiller, R.. 1981. “Do Stock Prices Move Too Much to Be Justified by Subsequent Changes in Dividends?” American Economic Review, vol. 71, no. 3 (June): 421–36.
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  • Worzala, E., and K. Vandell. 1993. “International Direct Real Estate Investments as Alternative Portfolio Assets for Institutional Investors: An Evaluation.” Paper presented at the 1993 AREUEA meetings, Anaheim, CA.

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