Pub Date : 2018-07-01DOI: 10.1080/10835547.2018.12090478
Jonathan E. Alevy, Paul R. Johnson, Edward Forrest
Summer Fellow, Center for the Governance of AI Oxford, UK Future of Humanity Institute June 2019 Aug. 2019 • Governance implications of data efficiency: Investigated the impact of improved data efficiency on the AI governance landscape. This focused in particular on analyzing the market power of large data-rich actors, and on finding potentially consequential new application areas of ML in data-limited domains. Presented work in FHI seminar, and AI Ethics and Society Conference 2020.
{"title":"Working Papers","authors":"Jonathan E. Alevy, Paul R. Johnson, Edward Forrest","doi":"10.1080/10835547.2018.12090478","DOIUrl":"https://doi.org/10.1080/10835547.2018.12090478","url":null,"abstract":"Summer Fellow, Center for the Governance of AI Oxford, UK Future of Humanity Institute June 2019 Aug. 2019 • Governance implications of data efficiency: Investigated the impact of improved data efficiency on the AI governance landscape. This focused in particular on analyzing the market power of large data-rich actors, and on finding potentially consequential new application areas of ML in data-limited domains. Presented work in FHI seminar, and AI Ethics and Society Conference 2020.","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"125 13","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10835547.2018.12090478","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72377052","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-07-01DOI: 10.1080/10835547.2018.12090481
George D. Cashman,David M. Harrison,Ryan J. Whitby
{"title":"Network Connections in REIT Markets","authors":"George D. Cashman,David M. Harrison,Ryan J. Whitby","doi":"10.1080/10835547.2018.12090481","DOIUrl":"https://doi.org/10.1080/10835547.2018.12090481","url":null,"abstract":"","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"63 6","pages":"83-102"},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138527813","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-07-01DOI: 10.1080/10835547.2018.12090475
Wei Lan Chong, K. H. Ting, F. Cheng
Abstract Corporate governance can have an effect on the organizational behavior of real estate investment trusts (REITs). We examine the moderating effects of corporate governance on Asia REITs' performance. We find significant corporate governance moderating effects on the performance of Asian REITs. Corporate governance could either act as a positive or a negative moderator that could enhance and accelerate performance, return on assets (ROA), return on equity (ROE), and REIT return, and reduce agency costs in Asian REITs. The findings imply that there is a need for transformation and reform in REIT corporate governance. The findings contribute towards Asian REITs' public policy development as REIT corporate governance is found to complement the institutional legal setting and externally managed REITs in Asia. Regulatory bodies of Asian REITs should enforce mandatory and absolute stringent corporate governance regulations on REITs.
{"title":"The Impact of Corporate Governance Moderating Effects on the Performance of REITs in Asia","authors":"Wei Lan Chong, K. H. Ting, F. Cheng","doi":"10.1080/10835547.2018.12090475","DOIUrl":"https://doi.org/10.1080/10835547.2018.12090475","url":null,"abstract":"Abstract Corporate governance can have an effect on the organizational behavior of real estate investment trusts (REITs). We examine the moderating effects of corporate governance on Asia REITs' performance. We find significant corporate governance moderating effects on the performance of Asian REITs. Corporate governance could either act as a positive or a negative moderator that could enhance and accelerate performance, return on assets (ROA), return on equity (ROE), and REIT return, and reduce agency costs in Asian REITs. The findings imply that there is a need for transformation and reform in REIT corporate governance. The findings contribute towards Asian REITs' public policy development as REIT corporate governance is found to complement the institutional legal setting and externally managed REITs in Asia. Regulatory bodies of Asian REITs should enforce mandatory and absolute stringent corporate governance regulations on REITs.","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"373 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74226683","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-07-01DOI: 10.1080/10835547.2018.12090483
{"title":"Journal of Real Estate Literature, Volume 26, Number 1, 2018","authors":"","doi":"10.1080/10835547.2018.12090483","DOIUrl":"https://doi.org/10.1080/10835547.2018.12090483","url":null,"abstract":"","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"70 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87694906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-07-01DOI: 10.1080/10835547.2018.12090476
Rangan Gupta, H. Marfatia
Abstract In this paper, we estimate a qualitative vector autoregression (Qual VAR) model, in which we combine the binary information of quantitative easing (QE) announcements with an otherwise standard VAR model that includes U.S. and emerging market real estate investment trust (REIT) returns. The Qual VAR uncovers the Federal Reserve's latent, unobservable propensity for QE and generates impulse responses for the emerging market REIT returns. The results show that QE has (strong) positively significant, but short-lived, effects on the returns of emerging market REITs.
{"title":"The Impact of Unconventional Monetary Policy Shocks in the U.S. on Emerging Market REITs","authors":"Rangan Gupta, H. Marfatia","doi":"10.1080/10835547.2018.12090476","DOIUrl":"https://doi.org/10.1080/10835547.2018.12090476","url":null,"abstract":"Abstract In this paper, we estimate a qualitative vector autoregression (Qual VAR) model, in which we combine the binary information of quantitative easing (QE) announcements with an otherwise standard VAR model that includes U.S. and emerging market real estate investment trust (REIT) returns. The Qual VAR uncovers the Federal Reserve's latent, unobservable propensity for QE and generates impulse responses for the emerging market REIT returns. The results show that QE has (strong) positively significant, but short-lived, effects on the returns of emerging market REITs.","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"17 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88271635","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-07-01DOI: 10.1080/10835547.2018.12090479
Robert A. Simons,Gary DeWine,Larry Ledebur,David M. Harrison
{"title":"Retired, Rehabbed, Reborn: The Adaptive Reuse of America's Derelict Religious Buildings and Schools","authors":"Robert A. Simons,Gary DeWine,Larry Ledebur,David M. Harrison","doi":"10.1080/10835547.2018.12090479","DOIUrl":"https://doi.org/10.1080/10835547.2018.12090479","url":null,"abstract":"","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"23 5","pages":"217-221"},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138512256","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-07-01DOI: 10.1080/10835547.2018.12090472
Riëtte Carstens, J. Freybote
Abstract More than 30 countries have introduced real estate investment trusts (REITs). One main objective is to attract foreign investors and improve the liquidity of the respective listed property sector. We investigate whether the introduction of REITs meets this objective by using the South African listed property sector as a laboratory. In particular, we employ panel data to investigate whether converting to REITs improved the liquidity of listed South African property firms through foreign investments. We find that foreign investor trading after the introduction of REITs has a significantly positive impact on activity measures such as turnover and trading volume. On the other hand, the significantly negative impact of foreign investor trading on friction measures such as bid-ask spread and Amihud's (2002) illiquidity measure, which was prevalent in the pre-REIT period, disappears once REITs were introduced. Thus, the introduction of REITs eliminated the impact of foreign investments on the depth and ...
{"title":"The Impact of Introducing REITs on Foreign Investments and Liquidity in South Africa","authors":"Riëtte Carstens, J. Freybote","doi":"10.1080/10835547.2018.12090472","DOIUrl":"https://doi.org/10.1080/10835547.2018.12090472","url":null,"abstract":"Abstract More than 30 countries have introduced real estate investment trusts (REITs). One main objective is to attract foreign investors and improve the liquidity of the respective listed property sector. We investigate whether the introduction of REITs meets this objective by using the South African listed property sector as a laboratory. In particular, we employ panel data to investigate whether converting to REITs improved the liquidity of listed South African property firms through foreign investments. We find that foreign investor trading after the introduction of REITs has a significantly positive impact on activity measures such as turnover and trading volume. On the other hand, the significantly negative impact of foreign investor trading on friction measures such as bid-ask spread and Amihud's (2002) illiquidity measure, which was prevalent in the pre-REIT period, disappears once REITs were introduced. Thus, the introduction of REITs eliminated the impact of foreign investments on the depth and ...","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"136 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76450025","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-07-01DOI: 10.1080/10835547.2011.12091697
Jim Clayton
{"title":"2017 American Real Estate Society Journal Manuscript Prize Winners","authors":"Jim Clayton","doi":"10.1080/10835547.2011.12091697","DOIUrl":"https://doi.org/10.1080/10835547.2011.12091697","url":null,"abstract":"","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83165085","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-07-01DOI: 10.1080/10835547.2018.12090471
K. Winson-Geideman
Abstract Drilling into data to understand property as a financial investment is one of the primary considerations of real estate research. This paper is designed to shed light on some of the newer and more innovative studies by highlighting the use qualitative data and content analysis throughout the literature to enhance our understanding of property. Particular attention is placed on linguistics research including readability metrics, semantic analysis, and sentiment analysis. Ocular tracking is also addressed as a way to evaluate unstructured forms of data. These methods are rigorous enough to be used on their own or as supplements to conventional pricing models, subject to the requirements of the research.
{"title":"Sentiments and Semantics: A Review of the Content Analysis Literature in the Era of Big Data","authors":"K. Winson-Geideman","doi":"10.1080/10835547.2018.12090471","DOIUrl":"https://doi.org/10.1080/10835547.2018.12090471","url":null,"abstract":"Abstract Drilling into data to understand property as a financial investment is one of the primary considerations of real estate research. This paper is designed to shed light on some of the newer and more innovative studies by highlighting the use qualitative data and content analysis throughout the literature to enhance our understanding of property. Particular attention is placed on linguistics research including readability metrics, semantic analysis, and sentiment analysis. Ocular tracking is also addressed as a way to evaluate unstructured forms of data. These methods are rigorous enough to be used on their own or as supplements to conventional pricing models, subject to the requirements of the research.","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87774157","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-05-01DOI: 10.1080/10835547.2018.12090488
D. Kaldiyarov, M. Dudin, K. Y. Reshetov, B. Bashilov, I. Noskov
Abstract The goal of this study is to analyze trends in the development of real estate investment trusts (REITS) in Russia and to identify promising vehicles for collective investment in real estat...
{"title":"Developing Vehicles for Collective Investment in Real Estate in the Russian Federation","authors":"D. Kaldiyarov, M. Dudin, K. Y. Reshetov, B. Bashilov, I. Noskov","doi":"10.1080/10835547.2018.12090488","DOIUrl":"https://doi.org/10.1080/10835547.2018.12090488","url":null,"abstract":"Abstract The goal of this study is to analyze trends in the development of real estate investment trusts (REITS) in Russia and to identify promising vehicles for collective investment in real estat...","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"40 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85762758","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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