This paper adopts the methodology in Bali and Cakici (Journal of Financial & Quantitative Analysis, 43, 29–58, <CitationRef CitationID="CR5">2008</CitationRef>) in tracking the evolution of the relation between equity REITs’ idiosyncratic risk and their cross-sectional expected returns between 1981 and 2010. In addition to the full...</citationref>

In this paper, we study the inflation-hedging properties of investments in REITs in Turkey between December 1999 and December 2006. Two main factors motivate the study. First, compared to their counterparts in developed capital markets, Turkish REITs have some important tax incentives as well as...

This study empirically tests the inflation-hedging abilities of Turkish REITs in comparison to the indices of common stocks listed on the Istanbul Stock Exchange (ISE) over the period December 1999 to December 2004. Two main factors motivate this study. First, compared to their counterparts in...

The asset pricing models affirm that the expected returns of securities are related not only to the risk premiums associated with the macroeconomic factors but also to their sensitivities to those macroeconomic factors that can also vary over time (Karolyi and Sanders, 1998). This paper employs...

Klapper and Love (2003) argue that firm-level corporate governance matters more in countries with weak legal systems. On the contrary, Bianco, Ghosh and Sirmans (2007) state that the strict legal rules on payout, ownership and asset structure make REITs more attractive within global perspectives...

[abstract missing - contribution appeared in the programme]

The purpose of this paper is to estimate the elasticity of capital - land substitution in the housing construction sector of Ankara, which is the capital city of Turkey and a rapidly urbanized city. The theoretical basis of our study is the housing production models, which use the basic concept...

In the highly volatile inflationary environment in Turkey, there is not an efficient residential mortgage finance system. Due to the limited access to mortgage financing, low- and middleincome households do not have much chance of becoming homeowners in the market for authorised housing. Thus,...

[abstract missing - contribution appeared in the programme]