A Sector View of Public Market Ownership of Commercial Real Estate in the United States
- Topics:
- Market Studies
- Tags:
- American Real Estate Society,
- Interest Rate,
- Insurance Company,
- Insurance,
- Financial Services,
- Financial Planning,
- Finance,
- Corporate Insurance,
- Commercial Real Estate,
- Business Operations,
- ...
- Source:
- American Real Estate Society
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Overview: A popular topic in financial research has been the development and perfection of models for pricing stocks. A three-factor pricing model that incorporates a real estate factor along with stock market and interest rate factors is developed. Results of the analysis lend support to the application of the three-factor model to insurance companies. Insurance company returns are positively and significantly related to real estate market movements. The results also indicate that the precise estimate of exposure to each form of systematic risk varies by type of insurance company.
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Format: PDF | Size: 203KB | Date: Feb 2003 | Pages: 14
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