scholarly journals From Property Companies to Real Estate Investment Trusts: The Impact of Economic and Property Factors in the UK Commercial Property Returns

2010 ◽  
Author(s):  
Vitor Leone
Keyword(s):  
Real Estate ◽  
Real Estate Investment Trusts ◽  
Real Estate Investment ◽  
Commercial Property ◽  
Investment Trusts ◽  
Property Companies ◽  
The Uk ◽  
The Impact

DOES CHANGE IN ECONOMIC POLICY UNCERTAINTY AFFECT REAL ESTATE INVESTMENT TRUSTS (REITs)?

2019 ◽  
Vol 14 (04) ◽  
pp. 1950016
Author(s):  
RANJEETA SADHWANI ◽  
SURESH KUMAR OAD RAJPUT ◽  
ASAD ALI-RIND ◽  
MUHAMMAD TAHIR SULEMAN
Keyword(s):  
Economic Policy ◽  
Real Estate ◽  
Positive Relationship ◽  
Real Estate Investment Trusts ◽  
Policy Uncertainty ◽  
Real Estate Investment ◽  
Macroeconomic Variables ◽  
Economic Policy Uncertainty ◽  
Investment Trusts ◽  
The Impact

This study aims to find the impact of change in economic policy uncertainty (EPU) on the returns and volatilities of 11 CRSP Ziman value-weighted US real estate investment trusts (REITs) during 1985–2016. The results indicate that the change in EPU has a positive relationship with volatility and a negative one with the REITs returns. Among EPU components, news-based component has the major impact than the others. Change in economic policy uncertainty has a significant impact on the returns of all the indices except hybrid, healthcare and unclassified REITs after controlling for macroeconomic variables. Whereas, the volatility is mainly explained by its own past values and macroeconomic variables.

The Impact of Option Introduction on Real Estate Investment Trusts

2011 ◽  
Vol 17 (3) ◽  
pp. 213-226 ◽  
Author(s):  
Dean Diavatopoulos ◽  
Andy Fodor ◽  
Shawn Howton ◽  
Shelly Howton
Keyword(s):  
Real Estate ◽  
Real Estate Investment Trusts ◽  
Real Estate Investment ◽  
Investment Trusts ◽  
The Impact

scholarly journals UK REITs don’t like Mondays

2017 ◽  
Vol 35 (1) ◽  
pp. 58-74 ◽  
Author(s):  
Arvydas Jadevicius ◽  
Stephen Lee
Keyword(s):  
Real Estate ◽  
Real Estate Investment Trusts ◽  
Real Estate Investment ◽  
Content Type ◽  
Dummy Variable ◽  
Investment Trusts ◽  
European Public ◽  
Dependent Variables ◽  
Day Of The Week ◽  
The Uk

Purpose The purpose of this paper is to examine whether Real Estate Investment Trusts (REITs) returns on the different days of the week differ from each other. Design/methodology/approach It uses European Public Real Estate Association (EPRA)/National Association of Real Estate Investment Trusts (NAREIT) UK index daily closing values (GBP) and its two sub-indices FTSE EPRA/NAREIT UK REITs and non-REITs as dependent variables. It employs Kruskal-Wallis tests and dummy-variable regression to test the hypothesis. Findings The overall findings provide evidence that return anomalies exist in the UK REITs. Practical implications Thought significant, the absolute returns differences are modest for investors to gain superior returns in UK REITs. However, by recognising the day-of-the-week effect, investors can buy/sell UK REITs more effectively. Originality/value This research brings updated evidence of the contested calendar anomalies issues in REITs.

scholarly journals The Impact of Consolidated Financial Statements on Performance of Financial Institutions: A Key Study from Turkey

2015 ◽  
Author(s):  
Turgut Çürük ◽  
Ayşe Tanyeri
Keyword(s):  
Real Estate ◽  
Financial Institutions ◽  
Value Relevance ◽  
Financial Statements ◽  
Real Estate Investment Trusts ◽  
International Standards ◽  
Real Estate Investment ◽  
Consolidated Financial Statements ◽  
Investment Trusts ◽  
The Impact

Financial statements prepared by companies are the main sources of information for those who make economic decisions about the companies. As the listed companies in many countries (at least on the large European stock market) have one or more subsidiaries, they are obligated by regulations to prepare dual financial statements (individual and consolidated). Unlike the practices in developed European stock exchanges, companies listed on the stock exchange in Turkey, which used to prepare individual financial statements until 2005, have been preparing only consolidated financial statements in accordance with national accounting and financial reporting standards which were adopted from International standards since then. As of today, individual financial statements have not been prepared by Turkish companies. Only exception to this general practices are the Real Estate Investment Trusts (REITs) registered with Capital Market Board (CMB). As the discussions and results of some empirical studies in the literature indicate that impact of consolidated and individual financial statements on the performances of companies are different. In line with these arguments in literature, this study, focusing on the REITs registered with CMB in Turkey, attempts to investigate the impact of consolidated financial statements on performance of financial institutions (REITs). In this context, value relevance is used as a proxy to measure the performance. Than the impact of indicators as regards to profit and owners’ equity observed from two different sets of financial statements of the same Real Estate Investment Trusts on the value relevance of companies are analyzed.

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