J Real Estate Finan Econ (2010) 41:103125 inside 10.1007/s11146-009-9190-2 spacial Statistics Applied to Commercial Real Estate Darren K. Hayunga · R. Kelley tone Published online: 21 may 2009 © Springer Science + bloodline Media, LLC 2009 Abstract Portfolio theory shows that diversi?cation place enhance the riskreturn trade-off. This study uses the controlling location of commercial in truth domain place along with spacial statistics to address the inherent problem of study geographical diversi?cation based upon a set of economic and property-speci?c attributes, some of which are unobservable or must be proxied with noise. We ?nd that commercial real acres portfolios exhibit statistically signi?cant spatial correlation at distances ranging from adjacent vim codes to neighboring metropolitan areas. given(p) the common structure query back up by a reserve from the Real Estate Research Institute. We thank an anonymous referee, Richard Buttimer, t he editor, Jeff Fisher, David Geltner, Marc Louargand, Glenn Mueller, Tony Sanders, C.F. Sirmans, and seminar participants at the RERI conference, UNC-Charlotte, and UT-Arlington for their suggestions and guidance. particular thanks to Robert blanched of Real Capital Analytics for data. D. K.
Hayunga (B ) Department of finance and Real Estate, University of Texas at Arlington, Box 19449, Arlington, TX 76019, USA e-mail: hayunga@uta.edu R. K. Pace LREC Endowed legislate of Real Estate, Department of Finance, E.J. Ourso College of Business Administration, Louisiana State University, wand Rouge, LA 708 03-6308, USA e-mail: kelley@spatial.us URL! : www.spatial-statistics.com 104 D.K. Hayunga, R.K. Pace of habituation found in the data series, we discuss feasible strategies for obtaining diversi?cation at heart direct-investment real land portfolios. Keywords Spatial statistics · Commercial real estate · Portfolio diversi?cation With the introduction of inef?ciencies into the real estate market...If you want to get a full essay, piece it on our website:
BestEssayCheap.comIf you want to get a full essay, visit our page:
cheap essay
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.