An Elasticity Approach to Equity Risk Evaluation

This study defines and derives a measure of risk for real estate investment decisions using the concept of elasticity. Specifically, the elasticity of the after-tax equity yield with respect to the before-tax net operating cash flow growth rate is derived from a discounted cash flow equity valuation model. Also, an illustration of the use and interpretation of this elasticity measure is provided.

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Year of publication:	1987
Authors:	Johnson, Larry J. ; Kuhle, James L. ; Walther, Carl H.
Published in:	Journal of Real Estate Research. - American Real Estate Society. - Vol. 2.1987, 1, p. 41-49
Publisher:	American Real Estate Society

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Extent:	application/pdf
Type of publication:	Article
Notes:	Published
Classification:	L85 - Real Estate Services
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005258637