The paper examines a recent Act seeking widespread reforms in the corporate governance and auditing sector. Several irregularities in the past called for passing of such an Act. A part of this act affects the human resources function in the organization. The paper discusses this part and looks into the...
The number of empirical and theoretical studies in the real estate literature gives evidences on the growing importance of multifamily housing as a viable choice of residence. Researchers have investigated the role of this sector of the real estate market for decades. This survey article examines more than one hundred...
This article uses canonical correlation analysis to investigate the income characteristics of active real estate agents in the United States who elected to participate in commercial and investment transactions. The model is unique in that it included activity areas to determine the specialties where agents generated the income and the...
This article re-examines the issue of international diversification in real estate securities and attempts to address the problem of estimation error in the inputted parameters through the use of alternative techniques. The results see an increased stability in calculated portfolio allocations in comparison to the classical mean-variance tangency approach, and...
Loan purchase and securitization by Freddie Mac, Fannie Mae and private-label commercial mortgage-backed securities CMBS grew rapidly during the 1990s and accounted for more than one-half of the net growth in multifamily debt over the decade. By facilitating the integration of the multifamily mortgage market into the broader capital markets,...
This article tests for the presence of both price continuation and price reversals in international real estate securities. The results reveal evidence of performance persistence in international markets over short and medium term horizons, however the evidence on price reversals is less compelling. The empirical analysis tests for mean reversion...
Many facets of real estate brokerage have been examined in studies appearing in the literature over the last several years. This review attempts to organize the research around six questions concerning the brokerage industry: (1) What is the nature of the market for brokerage services and how does it influence...
A recent Act establishes a new, independent board for the accounting industry and creates higher standards for corporate governance and audit committees. This board known as the Public Company Accounting Oversight Board PCAOB oversees the working of public accounting firms. The Act ushers in transparency in corporate transactions. The Act...
Total Quality Management TQM is a philosophy that involves everyone in an organization in a perennial effort to improve quality and meeting customer expectations. This signifies that the personnel at every level are given the responsibility of ensuring quality at their individual level. The final output that comes out of...
This article applies hedonic modeling techniques to estimate the value of a sample of apartment properties sold in the greater Portland, Oregon area. An equation for value as a function of location, amenities and capitalization rate is derived. This model explains about 95% of the variation in apartment property prices....
A noticeable omission in the existing body of applied real estate research is the lack of empirical analysis of the commercial development process. This address this shortcoming by utilizing a large panel database of individual building projects that in principle allows to follow individual projects through various stages of their...
The productivity of an organization is directly proportional to the efficiency of business processes it employs. Different types of organizational structures are compatible with different business processes. The presentation takes a look at these different structures and the processes employed therein.
The growing body of research focusing on real estate as an individual asset class puts the real estate cycle in the very center of strategic investment decisions and implications thereof. This article investigates if the non-structural definition of the cycle as defined by the Hodrick-Prescott HP filter can be used...
The article asserts that several approaches have been used to estimate and adjust for price movements in residential real estate; however, weaknesses remain in current systems. This paper incorporates a different way of measuring temporal price patterns. The method involves a time series model, an approach not previously employed when...
This article explains a study that examines the effect that a view of Lake Erie has on the value of a home. Unlike previous studies, the current investigation is able to successfully control for view. That is, because of the unique building codes of lakefront homes in this sample, homes...
Subdivision design likely impacts residential housing values. This study examines the sale prices of houses located in subdivisions utilizing rear-entry alleyways in the Greater Dallas-Fort Worth-Denton metroplex. Regression analysis on a sample of 1,672 home sales, some of which are located on alleyways, reveals statistically significant impacts. Consequently, developers, appraisers,...
This study finds evidence of an age restriction premium that is maintained over time and across varying market conditions. Prior research has demonstrated that the reduced uncertainty associated with private covenants and deed restrictions can be capitalized into value. Age-restricted subdivisions provide a measure of certainty that future property owners...
This article uses canonical correlation analysis to investigate the income characteristics of active real estate agents in the United States who elected to participate in commercial and investment transactions. The model is unique in that it included activity areas to determine the specialties where agents generated the income and the...
This study analyzes the risk perceptions of commercial and industrial mortgage lenders related to environmental contamination. Two research questions are addressed. The first is whether perceived risks vary with a property’s remediation/ cleanup status. The second is whether market conditions have an intervening effect on environmental risk. An analysis of...
This article is on a study that surveys active real estate brokers on their involvement in affinity programs and referral /relocation networks. Some survey results regarding affinity involvement are: (1) 13% of respondents reported affinity affiliations, 75% reported no affiliations and 12% indicated plans to become involved within the next...
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