Nicolai C. Striewe analyzes potential opportunistic behavior of REIT managers and provides empirical evidence on the effectiveness of institutional monitoring as a corporate governance mechanism. The author also suggests ways to promote sustainable management by means of institutional participation. The results of his study provide valuable insights to enhance corporate governance, transparency and efficiency in the REIT market. They encourage (a) academics to include a behavioral component into studies of the REIT market, (b) REIT managers to incorporate effective monitoring and control...
Nicolai C. Striewe analyzes potential opportunistic behavior of REIT managers and provides empirical evidence on the effectiveness of institutional...
Christopher Oertel studies the impact of public policy measures on the German real estate market and confirms the assumptions, which imply that a city can influence its economic position in relation to nearby cities in the short run by making use of this tax instrument. His analyses begin with an examination of the German residential real estate market from a consumption good perspective. The findings indicate that the home-ownership allowance had a distorting effect by capitalizing into residential real estate prices, although at lower than expected rates. Then the author studies the German...
Christopher Oertel studies the impact of public policy measures on the German real estate market and confirms the assumptions, which imply that a city...
Anna Mathieu clarifies if real estate decisions are affected by investor and consumer sentiment and how severely the sentiment should be considered. With regard to international capital markets Mathieu conducts an analysis of the impact of investor sentiment on the return of the real estate-specific investment vehicle Real Estate Investment Trust (REIT) by applying a GARCH-Model. She investigates the effects of investor sentiment on the return and the underlying volatilities of REITs and Non-REITs during the financial crisis. The hypotheses are tested for validity in a GARCH-Model....
Anna Mathieu clarifies if real estate decisions are affected by investor and consumer sentiment and how severely the sentiment should be considered...
Bjorn-Martin Kurzrock untersucht markt- und objektbezogene Ein ussfaktoren auf die Performance von Immobilien-Direktanlagen und Bestandteile der Immobilien-Performance. Grundlage ist die Investment Property Databank (IPD/MSCI) mit Total Returns, Netto-Cash-Flow-Renditen und Wertanderungsrenditen von 1.531 Buro-, Handels- und Wohnimmobilien. Da immobilienbezogene Daten schwer zuganglich sind, basieren viele wissenschaftliche Arbeiten auf aggregierten Performanceindices, Mietpreisen oder Leerstandsraten. Der Fokus liegt dann nicht auf Gebauden, sondern auf Markten und Nutzungsarten. Der Autor...
Bjorn-Martin Kurzrock untersucht markt- und objektbezogene Ein ussfaktoren auf die Performance von Immobilien-Direktanlagen und Bestandteile der Immob...
Simon Kempf has developed hedonic (quality-adjusted) office rent indices for German metropolitan areas. His study explores new territory as it constructs, for the first time, such indices for Germany. The author thereby has taken into account the different qualities of the underlying lease contracts regarding location factors, lease factors, building factors, equipment and layout factors of the office rental unit - using more than 22,005 office lease contracts stored in the Rental Databank of IPD GmbH in Wiesbaden. This hedonic index construction methodology is well...
Simon Kempf has developed hedonic (quality-adjusted) office rent indices for German metropolitan areas. His study explores new territory as i...
Alexander Reichardt provides pertinent information on the business case for sustainable buildings, which offer a large potential to abate climate change, which can be achieved at relatively affordable costs compared to other industries. He discusses although sustainable space offers verifiable advantages to tenants like lower operating expenses, higher employee productivity and reputation benefits, the small empirical evidence that tenants indeed pay a rent premium for leasing this space. The author, therefore, analyses if sustainable buildings command a rent premium compared to comparable...
Alexander Reichardt provides pertinent information on the business case for sustainable buildings, which offer a large potential to abate climate c...
Julia Gentgen stellt ein integriertes Entscheidungsmodell fur deutsche Banken vor, das zur Behandlung von Problemkrediten sowohl die Kostenef zienz der jeweiligen Transaktionsform als auch die erforderlichen Kompetenzen zur Bearbeitung berucksichtigt. Dieses Modell kann Banken als Entscheidungshilfe dienen und differenzierte Strategien fur verschiedene Problemkreditportfolios in der Frage nach der optimalen Gestaltung des Managements ableiten. Bis Ende 2004 sammelte sich ein grosses Volumen an Problemkrediten in den Bilanzen deutscher Banken an. Okonomische und rechtliche Parameter...
Julia Gentgen stellt ein integriertes Entscheidungsmodell fur deutsche Banken vor, das zur Behandlung von Problemkrediten sowohl die Kostenef zienz de...
Friederike Sperl untersucht das loyale Mieterverhalten, um daraus effektive Bindungsmassnahmen fur Wohnungsunternehmen zu identi zieren und einen pro tabilitatsorientierten Mieterbindungsmanagementansatz abzuleiten. Ziel ist es, durch eine effektive und ef ziente Mieterbindungsstrategie die Erfolgsmoglichkeiten von institutionellen Wohnungsanbietern nachhaltig zu erhohen. Dies geschieht vor dem Hintergrund des Wandels von einem Vermieter- hin zu einem Mietermarkt. Daher gewinnt die Kundenorientierung im Sinne des Customer Relationship Managements auch in der Wohnungswirtschaft zunehmend an...
Friederike Sperl untersucht das loyale Mieterverhalten, um daraus effektive Bindungsmassnahmen fur Wohnungsunternehmen zu identi zieren und einen p...
