Risk and Real Estate Investment: An International Perspective
AbstractThe literature regarding portfolio analysis for institutional real estate investors has until now largely been concerned with benefits associated with naive diversification strategies. In this paper, we discuss the prospects that institutional characteristics suggest for risk reduction in internationally diversified portfolios. The risk/return relationship of each country is affected by its own unique institutional environment and therefore there are potential benefits for investors. We argue that, given the significant differences in the institutional framework across countries, there are likely impacts on returns and that this fact deserves the attention of institutional investors.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 11 (1996)
Issue (Month): 2 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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