Eres : Digital Library : Works

Paper eres2009_185:
The Effect of Focus on the Performance of German Mutual Real Estate Funds

id eres2009_185
authors Sebastian, Steffen; Bond, Shaun
year 2009
title The Effect of Focus on the Performance of German Mutual Real Estate Funds
source 16th Annual European Real Estate Society Conference in Stockholm, Sweden
summary We analyze the effect of diversification across property types and regions on the performance of German mutual real estate funds, the predominant vehicle for indirect real estate investment in Germany. We find weak but robust evidence that diversification across property types destroys shareholder value, while regional diversification enhances value. We further find that increased expenses are not rewarded with increased performance.
series ERES:conference
email steffen.sebastian@irebs.de, shaun.bond@uc.edu
content file.ppt (1,364,992 bytes)
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ratings
session Investment and Finance
last changed 2009/09/16 16:22
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