Ibrahim, Islam; Falkenbach, Heidi - In: Journal of European Real Estate Research 16 (2023) 3, pp. 381-397
whether the reduction in operating efficiency is due to the rental income channel or the capital gains channel, the authors … find strong statistical evidence that international diversification negatively impacts capital gains. International … diversification is negatively associated with net gains from property valuations (unrealized capital gains) and net profits from …