|Title:||Real estate investment trusts||Authors:||Chen, Hsuan Chi
Wu, Cheng Huan
|Issue Date:||9-Nov-2005||Journal Volume:||31||Journal Issue:||SPEC. ISS.||Source:||Journal of Portfolio Management||Abstract:||
Can investors improve their investment opportunity sets by adding a real estate investment trust (REIT) portfolio to benchmark portfolios sorted by firm size and book-to-market ratio? According to U.S. REIT performance data over 1980-2002, REITs after 1986 improve the meanvariance frontier set. Equity REITs appear to be non-redundant financial assets, which helps to enhance the completeness of the financial market. Mortgage REITs provide no diversification benefits in the sample period.
|Appears in Collections:||國際企業學系|
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