Chun, Gregory H.; Sa-Aadu, J.; Shilling, James D. - In: The Journal of Real Estate Finance and Economics 29 (2004) 3, pp. 295-320
Many papers have recently pointed out that institutional investors allocate only a very small fraction of their portfolio to real estate, much smaller than theory would dictate. This raises the question, are institutional investors underinvested in real estate equities? Or do we simply have the...
