Capital investments in energy efficiency in the built environment are a cost-effective manner to achieve substantial reductions in current carbon emissions. In fact, improvements in the energy-efficiency or sustainability of buildings have been shown to lead to positive financial returns....

This paper investigates liquidity differences between property shares and common stocks in Australia, the United Kingdom and the United States over the period 1990-2004. This paper is first to analyze liquidity by the use of trading velocity, a ratio which measures the actual traded portion of...

Real estate has been at the forefront of the financial crisis, with the intransparency of securitized products, such as MBS, CMBS, and CDOs, playing a critical role. Real estate equity investments have received less attention during the crisis. Listed property companies (REITs) offer an...

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We study the effects of demographic changes on the global office markets. Growth in the labor force, the ultimate driver of office demand, is slowing down in some countries and is contracting in others. Based on demographic forecasts, we then formulate expectations about the future shape of the...

This paper studies the value added arising from the skills of active real estate portfolio managers by exploring a database of listed property companies for Australia, the United Kingdom and the United States. We develops three indicators of portfolio management intensity, and investigates...

We conduct a quantitative study to explain why firms lease commercial office space in buildings with a green label ñ as this implies paying a rental premium. Based on a literature review, we construct a theoretical framework of drivers underlying corporate social responsibility. We formulate...