USF St. Petersburg campus Faculty Publications
The relationship between REIT property types and economic risk factors.
Document Type
Article
Publication Date
2009
ISSN
2150-1033
Abstract
This study examines the influence of macroeconomic risk factors upon Real Estate Investment Trusts (REITs) that invest in distinct types of properties that represent different economic sectors. Although several studies have explored the impact that economic risk factors have upon Equity REITs, the focus was solely on REITs as a single group. The findings from this analysis reveal strong differences across property types in the influence that macroeconomic risk factors have upon REIT returns. These property-based variations also appear in the pattern of behavior between REIT returns and information shocks originating from changes in the economic risk factors. Test results also show evidence of size-based differences across and within property types in both overall sensitivity and in dynamic responses to changes in the economic risk factors. These findings provide additional insight into the risk exposures of real estate investments and the behavior of REIT returns that may have important implications for portfolio formation and risk management practices.
Language
en_US
Publisher
Shippensburg University. School of Business
Recommended Citation
Patterson, G.A. (2009). The relationship between REIT property types and economic risk factors. Academy of Business Disciplines Journal, 1, 19-28.
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Comments
Citation only. Full text document is available through the publisher's link provided. Published in Academy of Business Disciplines Journal, 2009, v.1, 19-28.